Spain Fastener Firm Opening Warehouse in Hungary

Jason Sandefur

Spanish fastener maker Celo plans to build a $2.1 million warehouse in northwestern Hungary, the Hungarian News Digest reports.
The 17,760 sq ft facility will serve as a distribution centre for central Europe, Celo Hungaria CEO Gabor Nagy stated, and is slated for completion in May 2008. Celo Hungaria, which supplies screws and fasteners for the automotive and electronic industries, forecasts revenue of EUR 800,000 ($1.2 million) in 2008.
Celo has production facilities in Spain and China and subsidiaries in France, Poland and Hungary. Celo employs 180 workers and reported revenue of $45.3 million in 2006. �2007/2008 FastenerNews.com