MouldTech Systems completes EUR 12.2m investment

Tool manufacturer MouldTech Systems has completed a 4.4 billion forint (EUR 12.2m) investment at its base in Zalaegerszeg, in southwestern Hungary, the finance minister said in a video message posted on Facebook on Monday.

Mihály Varga said the investment was supported with 3.5 billion forints in a government grant earmarked to boost Hungary’s self-sufficiency in the production of health-care supplies.

MouldTech will be able to quickly fill the gap if there are health-care equipment shortages, he said.

MouldTech owner and managing director Péter Egyed said the company developed its own products and protective equipment “within a couple of weeks” after the outbreak of the pandemic.