Italian knitter invests in Hungary
1 February 2010, Urgnano (BG) - Manifattura Italiana Tessuti
Indemagliabili SpA (MITI), an Italian producer of high-quality warp and weft
knit fabrics, is investing in additional production capacity in Hungary. The
company, which made its name in ladder-free warp knits and stretch fabrics for
high performance sportswear opened a new plant in Szentgotthárd (western
Hungary) last week, where it intends to expand from 40 to 100 staff.
MITI President Leonardo Polli told local newspaper Napi Gazdaság
that the company has invested more than EUR 2 million in the refurbishment of
the 4000 square metre production facility to equip it with state-of-the-art machinery.
MITI commenced operations in Szentgotthárd about four months ago after it
finished relocating production from its Zogno, Italy plant. The company says
the main reason for the move was that labour costs in Hungary are lower.
MITI will embark on a new development scheme in Hungary that
will not only boost capacity but also expand its product portfolio. The paper
said the project is to kick off next year and that MITI may build its own
manufacturing unit as it currently only rents the facility from Lurotex, a local
unit of Italy's Radici Group.
The main reason why MITI's owners are so upbeat about the
future is that they have apparently experienced only a small decline in
sportswear sales despite the global economic crisis. The company says it is
already seeing demand for its products picking up.
Founded in 1931 MITI SpA was one of the first warp-knitting
specialists in Italy and during the last 78 years it has produced many
different types of knitted fabrics. In recent times the company has concentrated
on high-performance stretch fabrics for active wear. It focuses mainly on the
western European market and has around 200 employees.
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