SZEKESFEHERVAR, HUNGARY -- Top 40 EMS provider Videoton plans to invest HUF 5 billion ($18.8 million) in a new 215,000 sq. ft. factory here.
The company has allocated an additional $9 million for equipment and other technology for the building, its third on the campus. Videoton will add more than 200 workers to staff the new site, which is scheduled for completion by the end of next year. The building will include 91,493 sq. ft. of production space and 48,438 sq. ft. of warehouse area. The two existing buildings take up 182,986 sq. ft. and house 770 workers.
Videoton will pay for the capital investment with cash on hand, according to published reports.
Videoton projects consolidated revenues of HUF 170 billion ($639 million) this year, up from HUF 160 billion a year ago. The Székesfehérvár campus is forecast to revenues rise to EUR 100 million ($118 million) by 2019, from EUR 70 million currently.
Videoton Autoelektronika, the firm's automotive electronics/electromechanical assembly subsidiary, will expand into the site vacated for the new building. That operation already fills up a 269,000 sq. ft. space in Székesfehérvár.
Videoton ranked 38th in the 2016 CIRCUITS ASSEMBLY Top 50.