3M Hungária Anticipate Revenue Increase in 2011

The Hungarian unit of US conglomerate 3M is looking to increase revenue by 15% in 2011, managing director Mats Lennart Friberg said on Wednesday, MTI reports. Friberg said 3M Hungária expects to see a revenue level last recorded in 2008.

3M Hungária is looking for cooperation with companies in Hungary, especially on the field of vehicle manufacturing, Friberg said, citing Daimler, BMW and Suzuki as examples.

3M Hungária booked HUF 6.1 billion (about €23 million) in sales last year, 2.2% higher than a year before, however, 17% below its figures before the financial crisis.

Operating profit of the unit jumped 35% last year to 15% of sales turnover or to about HUF 900 million (approx. €3.4 million). Capital efficiency improved 2-3% from 2009.