Payer Industries Hungary Kft. has already built a HUF 3 billion production facility on 11,000 sq m in Hungarys Ajka in the vicinity of the new Atlantis Industrial Park, which is expected to operate at full capacity from August 1, 2007. The new factory is needed to meet the companys growing stock of orders and the management brought a decision in favour of Hungary due to the positive experience gained here.
Payer Industries Hungary has existed since 1997. The Hungarian unit currently operates with a staff of 500 people, and posted revenues of HUF 8.5 billion last year.
Rob Bekkers, CEO of the Payer Group earlier said: “Over the next three years, we will invest EUR 13 million in Hungary."
In the future, in Ajka 100,000 cutting devices will be manufactured every month for the European personal care market, among them hair clippers for Philips and men’s razors for Boots. Tools for removing drilling dust are among the products manufactured for the European industrial solutions field.
The largest production facility was established under the name of PAYER Kvattro on the former site of Videoton in 1992. The companys name was changed for PAYER Industries Hungary in 1998 after PAYER holding acquired 100-per-cent stake in the company.
With its production sites in Hungary and China, PAYER International Technologies is the only supplier of hair cutting devices worldwide that can offer both qualitative, high-end production in Europe and cheap Asian production.