Cooper Tools Hungaria, having recently begun production in the industrial park of Gyor (NW Hungary), will eventually become the Central European headquarters of the German mother firm, serving car manufacturers in a region of 300 to 400 kilometres in radius.

The subsidiary, established with Ft1bn of capital, intends to double its revenues this year to E14m, announced CEO Laszlo Szekely. The company is primarily involved in the development, design and manufacture of machinery for the car industry. Its main clients are Audi, DaimlerChrysler, Opel and BMW.

Within the field of unique machinery manufacturing, the most significant strength of the firm is screwdriving technology. The company's initiatives include co-operation in Romania, Slovenia and Slovakia, where Peugeot Citroen has recently established an auto factory. Cooper Tools is also looking to develop a research and development base. It currently has a workforce of 130.

(NewsBase 07.ii.03)