Wamsler, remarkably the biggest maker of fireplaces and stoves in Central Europe has announced an expansion of its base at Salgótarján, Northern Hungary which will cost an estimated HUF 3.6 billion. This announcement was made on Tuesday, and the project will be supported by the government with a HUF 1.8 billion investment as a grant. The Minister for National Economy Mihley Varge confirmed these reports at the ceremony.
 
The planned construction of the 5,400 square meter production hall and the installation of automated equipment will increase the capacity at the base by about 50% to reach 150,000/160,000 units a year, according to the information gathered from the CEO Ferene Finta’s statement.

The funds for this project will be partly provided by Wamsler, the owner of Opus Global. Wamsler is expected to raise HUF 1 bln for this project while a bank credit financing arrangement will cover the rest funding.

The owner of Opus Global Lőrinc Mészáros confirmed in a statement regarding the planned investments that Wamsler is expected to generate an annual profit of HUF 700-800 million in one or two years. Wamsler controls 7-8% of the European market for fireplaces and stoves.