Fastener fair scheduled for Hungary

A regional Fastener Fair in Budapest, Hungary is designed to put fastener and fixing companies in direct contact with distributors, manufacturers and end-users in eastern Europe.

The Fastener Fair Budapest exhibition is scheduled to happen on on September 22 and 23, 2008 at Budapest's modern SYMA Event Centre.

The exhibition's purpose is to help western European and international exhibitors take advantage of opportunities in eastern Europe, which have resulted from the increasing costs of doing business in the Far East.

There has recently been a great deal of activity in eastern Europe, providing fastener and fixing companies with tremendous prospects.

A key reason, said show organiser, Jerry Ramsdale, to manufacturingtalk, is changes taking place on the other side of the world.

He said: "We're seeing something of a reversal, in which major producers are rethinking the conventional wisdom that in order to be competitive they have to relocate production and assembly to the Far East".

Ramsdale continued: "People are looking at China, for example, and seeing big increases in raw material costs; sea freight to Europe more than doubling in price last year; plus labour costs set to increase by 40% in 2008 as a result of skills shortages and new labour laws".

The positive effects of such changes on eastern Europe are exampled by Peugeot Citroen increasing production at plants in the Czech and Slovak Republics.

Other examples include Nokia, which is closing a factory in Germany and opening a new plant in Romani.

Daimler may locate a new Mercedes car plant in Poland or Romania.

The organisers of Fastener Fair Budapest said that Slovakia will soon have the highest per capita output of cars in the world.

Also, Samsung is adding an LCD plant to its existing computer monitor and television factories in Hungary.

Romania in 2006 alone attracted US$9 billion in foreign direct investment, while Croatia is committed to achieving European Union entry standards by end of this year.

2008 should see the Ukraine ratifying its World Trade Organisation membership.

The action will allow more open trading relationships with the regions and the rest of the world.

Construction is burgeoning throughout Europe's 'near east'.

Hungary's exports grew by 18% in 2006 and 15% in 2007.

The country is at the geographical and business 'heart' of all these developments, which is why its capital, Budapest, is hosting this new Fastener Fair venture.

"The event has been developed to be both cost and time effective for exhibitors," said Ramsdale.

"It's a 'fly in, fly out' exhibition, with a straightforward selection of stand options to provide exhibitors with hassle-free preparation, with no stand being larger than 20m2." And, as with all other Fastener Fair exhibitions around the world, informal networking will be a key part of the Budapest show, with the highlight being an evening river cruise on the Danube on the first night of the show.

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