State-owned automotive company Rába will launch a HUF 10.5 billion technology development program under a resolution adopted by shareholders at the companyʼs annual general meeting in Győr.
The development, which will increase production capacity of the groupʼs axle division, is the first step in Rábaʼs strategy for the next 15 years. Preparations for the investment will start later this year and the project is scheduled to be completed in 2019.Chairman-CEO István Pintér said at the AGM that Rába wants to strengthen its axle division in the future to help boost growth.Rába managed to cut its net liabilities to a record HUF 4.3 bln in 2015, he added.
