Politics & Foreign Relations

   Economic News

   Business News

   Other News of Interest

   All stories

15th May, 2018

Samsonite gets Ft 800bn subsidy

A consortium led by Samsonite Hungária Bőrönd has received Ft 811 million in state support to expand capacity and increase efficiency by integrating SMEs into its operations, the luggage maker announced.

The consortium includes four Hungarian SMEs, which will use the funds granted via the Széchenyi 2020 development plan to increase production by adding new capacity.

Szekszárd-based Samsonite Hungária, which increased revenues four-fold in the last five years, has replaced suppliers from the Far East with Hungarian companies, which may be more expensive, but are closer and more flexible, the company said.

Samsonite Hungária produced 1.1 million items of luggage last year with a staff of 900.

The most recent available financial report shows Ft 23 billion in annual revenue.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

Contact Free Trial Subscription