The Bosal Group, which makes exhaust systems, catalytic converters, steel tubing and towbars, has bought a majority share in the Hungarian tow bar manufacturing division of Autoflex.
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Autoflex is the largest towbar manufacturer in the East European market with distribution networks in Hungary, Czech Republic, Slovakia, Slovenia, Serbia, Romania and Russia. Autoflex employs about 550 people in four factories located in Hungary, Slovakia, Romania and Russia, producing more than 150,000 towbars per year.
The company’s customers are automotive parts distributors and distributors of trailers and trailer parts.
Supported by Bosal, Autoflex is embarking on a major long-term expansion plan in the fast growing East European market, soon to become part of the European single market. This expansion plan is underpinned by the construction of a new $US8 million dedicated towbar manufacturing plant in Kecskemet, in central Hungary, which will start production in mid 2004.
The expansion plan also includes future investment in new production equipment, planned to boost capacity and extend the company’s claimed cost leadership, taking full advantage of the expanding European market.
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