The capacity expansion investment project by István János Magyar, private entrepreneur, has been completed
At the Nyíracsád site of István János Magyar, private entrepreneur, the construction of a new production hall has been completed, with the assistance of a HUF 142.151 million European Union subsidy won in the framework of the Széchenyi 2020 program.
István János Magyar commenced the activity in 1999, in Nyíracsád, a town situated about 30 km from Debrecen. Initially, the company’s activity was limited to wood production by logging, and it was performed manually or by machines. The company’s main activity is NACE 1610’08 Sawmilling and Planting of Wood, which was developed in the framework of the current tender.
The goal of the project was to expand the company’s production capacity, as a result of which it can satisfy increased consumer demand. The growth of production volume involves revenue growth. With the use of the newly procured machines and equipment the company can manufacture more highly processed products, expand its clientele, and as a result of higher added value the company’s income, its revenue proportional profit will significantly increase. There is considerable demand showing on foreign markets for higher quality, thus dried, or further processed Wattle wood, which is apparent from the company’s export revenue ratio. As a result of the development the company has progressed further towards its long term strategic objective, which is improving its competitiveness, strengthening its innovative and adaptive capacity, as well as increasing the ratio of higher added value products in its manufacturing. As a result of the investment project the company was able to grow its number of payroll employees by 10-20 persons.
The project with identification number GINOP-1.2.1-16-2017-00032 was implemented in the framework of the Széchenyi 2020 program by 18.03.2020, with nearly HUF 142.151 million of European Union subsidy.
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