Austrian industrial product manufacturer Semperit plans to invest around €10 million ($13.6 million) in a hose production expansion project at its Semperflex Optimit plant in the Czech Republic.
The project is already underway and, when completed, is planned to increase production capacity by 30% by the Q2 2015, the company says. No further details on the project have been disclosed.
Semperit says it is benefitting from global growth in sectors including mechanical engineering and mining despite a weak market environment.
The Austrian producer of rubber and plastics products adds that an ongoing demand for construction and agriculture machinery has put its Semperflex segment in 'a strong market position' for its hydraulic and industrial hoses