D-ÉG Thermoset

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City: Budapest

State: Budapest

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Country: Hungary

D-ÉG Thermoset Kft. is a defining player in the building engineering market in Hungary. On the one hand, the company owns the widely recognized panel radiator factory in Dunaújváros, which represents top manufacturing quality in the region and is the only Hungarian-owned company operating in the field. On the other hand - based on its radiator production activities - the company has established a commercial retail chain of 23 stores located around the country. Today, the turnover of these stores is several times greater than D-ÉG Thermoset&s;s turnover from the manufacturing and sale of radiators. During the recession in the construction sector after 2008, the company lost significant markets both in its commercial and in its manufacturing divisions. Its relative market share, however, did not decrease: in fact, D-ÉG Thermoset increased its presence in some segments. Since the beginning of the financial crisis, the firm has implemented several important programs to improve efficiency. As a result, it was able to maintain operational profitability, even though lower turnover has led to proportionally increasing financial expenditures, necessitating the help of outside investors. The common aim of both OTP Turnaround Capital Fund and the majority owner of D-ÉG Thermoset Kft. is to return the company to a path to growth. Since the medium-range prospects of Hungary&s;s construction industry do not indicate any real market expansion, the business plan developed jointly focuses primarily on improving efficiency, entering new market segments while exploiting the company&s;s current network, and increasing the export of radiators.

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