Budapest’s steel manufacturer, Tom-Ferr Zrt., has received a non-refundable subsidy of 287.55 million HUF (approximately EUR 757,378) from the Hungarian Multi Program, potentially allowing it to become a direct supplier to German manufacturers, according to Járműipar.hu. This project, with a total expense of nearly HUF 719 million (around EUR 1.89 million), aims to modernize Tom-Ferr’s metalworking operations through new equipment purchases. This is anticipated to enhance production efficiency, allow the creation of new tubes and components, and pave the way for producing heavy-duty components. The company also plans to install solar panels on two factory buildings to lower operational costs. With 2022 sales exceeding 29 billion forints (about EUR 65.9 million), Tom-Ferr is a significant player in the steel tubes and automotive components market. It expanded its business in 2008 with the Tata plant, adding automotive components production. The company has supplied major companies such as KIRCHHOFF Automotive GmbH and was named their “Supplier of the Year” in 2018.
Source: hungarytoday.hu
