BUDAPEST: Hungarian valve manufacturer Szelepkutató Fejlesztési, will spend HUF 537 mln on the development of a new line of cost-efficient products, the company told Hungarian news agency MTI.
The firm’s R&D project is being realized with the support of a HUF 220 mln European Union grant, and is expected to be completed in the second half of 2016. The new products include a next generation safety valve, a programmable plunger valve, a multifunctional valve for lavatories and an automated faucet, the company said. The company saw a revenue of HUF 44 mln last year and has a headcount of ten.
