Economy
Slovakia's Matador buys Hungarian peer
The financial details of the transaction have not been revealed.
The Győr-based (northwest Hungary) company, to operate as Matador Hungária as of 1 January 2006, has annual revenues of HUF 2-2.2 billion, 45-48% of which is generated on the sale of Matador tyres. Horváth Gumi has a market share of over 11% in Hungary.
Matador operates a joint venture with Germany's Continental. Total revenues of the Matador Group was SKK 13.4 billion (EUR 344.6 m) in 2004 and plans to boost sales to SKK 22 billion by 2008.
The Győr-based (northwest Hungary) company, to operate as Matador Hungária as of 1 January 2006, has annual revenues of HUF 2-2.2 billion, 45-48% of which is generated on the sale of Matador tyres. Horváth Gumi has a market share of over 11% in Hungary.
Matador operates a joint venture with Germany's Continental. Total revenues of the Matador Group was SKK 13.4 billion (EUR 344.6 m) in 2004 and plans to boost sales to SKK 22 billion by 2008.
