Minister of State for Employment Sándor Czomba, MP Péter Ágh (Fidesz-KDNP) and Hermann Binder, owner of the company, laid down the foundation stone of the latest, 2250sqm production facility of Binder Ltd in Csönge, Vas County.

As the Minister of State stressed in his speech, predictable business environment, highly skilled labour force of sufficient size and reduced red tape are crucial factors for enterprises aiming to settle in Hungary or to launch a development project.

He also said that in previous years the vocational training system had failed to adapt to the requirements of industries, but as the practical phases of the recently introduced dual vocational courses take place in the training centres of companies, the new scheme has been serving the real interests of employers.

The Minister of State pointed out that employment has improved in Hungary and currently some 4 million people are in employment, of which only 1.5 million have a job in the productive sector although production is expected to be the basis of steady economic growth.

Hermann Binder, who has been for eighteen years at the helm of the company producing industrial steel constructions in the Csönge industrial park, stressed that he is proud of the achievements they have realized thus far and of the highly skilled Hungarian employees -- many of whom have been with the company for more than a decade – and all of whom have contributed to the company’s development.

For the implementation of the current development project, valued at HUF 382 million, the company has won funding of HUF 149 million through a New Széchenyi Plan tender. The Austrian owner emphasised that he intends to continue with re-investing the company’s profits into further development.

According to publicly available company data, Binder Ltd generated gross income of HUF 1.733bn and after-tax profits of HUF 223 million in 2012. In comparison to the previous year, turnover was up by HUF 190 million and net revenues were down slightly, by HUF 3 million.

The production facility in Csönge has 100 employees and a production area of as much as 17 000sqm where multifunctional steel construction elements are manufactured. Some of these are used, for example, in power plants.

The products of Binder Ltd are sold – in addition to Hungary – in Austria, Germany, Italy, Switzerland, the Netherlands and Brazil.

Fidesz-KDNP MP Péter Ágh stressed that settlements of the region do not only have a great past but they also have a promising future, as unemployment has been decreasing both in the area and in entire Hungary.

The New Széchenyi Plan and the Government’s economic stimulus programme have both been successful and thus the country is one step closer to the ultimate of goal of providing everybody with work, he added.

(Ministry for National Economy)