Austrias Greiner to Invest in Hungarian Unit

31. Oktober 2006, 00:00

Austrias Greiner Group, one of the world leaders in foam and plastic products, said it will begin a project to expand...

Austrias Greiner Group, one of the world leaders in foam and plastic products, said it will begin a project to expand the production capacity of its plant from Mosonmagyarovar, economic daily Napi Gazdasag reported. Grenier hopes the investment will propel its Hungarian subsidiary, which manufactures pharmaceutical accessories, to increase its annual turnover by 5 per cent until 2010.

The revenues of the Hungarian subsidiary mostly originate from the sale of Greniers own plastic-based blood testing technology.

Founded in Germany in 1868 and with an Austrian company operatiing since 1899, today the group has 106 production and sales locations round the globe, which means affiliated company units can focus activities on client requirements and market needs optimally, both as a local and a global player.

The 6,466-strong workforce generated a consolidated turnover of EUR 819 million in the 2005 financial year, according to the Groups annual report. The group is organised into two holdings each covering a separate aspect of the business: Greiner Holding AG and Greiner Bio-One International AG.

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