MPF Industry Group
we are bringing manufacturing to life
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| Private | |
| Industry | Manufacturing |
| Founded | 1976 |
| Headquarters | Singapore |
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Area served
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Worldwide |
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Key people
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Zsolt Felcsuti Csaba Bálint Péter Körmöczi-Kovács Lawrence Fong |
| Products | Precision industrial components, abrasives, heating devices, powertool accessories, tools, building materials, furniture |
| Revenue |
 US$ 302.18 million (2013) |
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US$ 37.01 million (2013) |
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| Profit |
US$ 35.18 million (2013) |
| Total assets |
US$ 275.40 million (2013) |
| Total equity |
US$ 216.93 million (2013) |
| Website | www |
MPF Industry Group is a multinational manufacturing company with major investments in East-Central Europe and in the Far East. According to Forbes magazine, it is the third biggest Hungarian owned family business. MPF Industry Group is featured in 1000 Companies to Inspire Europe published by the .
The story of MPF Industry Group started in 1976 when Csaba Felcsuti established a business with a group of entrepreneurs in the socialist Hungary. However, private companies were not even legal in Hungary at the time, Mr. Felcsuti was one of the first who wanted to gain advantage from the communist government’s first free market initiatives, so as the law made it possible, Mr. Felcsuti started to work as a private entrepreneur. Later, Csaba left the group and started to manufacture tools in the garage of his house.
At the time, when communism started to collapse, the son of Csaba Felcsuti, Zsolt Felcsuti was working in Switzerland. As several DIY store chains appeared in the Hungarian market the father and son saw the only time business opportunity to make the next step out of the garage based manufactury. In a 2006 interview with Zsolt Felcsuti released in Financial Times the following was written about this chapter of MPF Industry Group history:
"At the time, several foreign DIY retailers were entering the Hungarian market, selling mostly imported goods, including power tools. That looked like an opening to Mr Felcsuti, despite the fact that he and his father had no power tools to sell. The two worked hard to produce models for about 200 tools before approaching a senior buyer at Baumax, an Austrian-owned chain. “He said, ‘I’ll give you five minutes because you speak such good German’.” The five minutes were enough to win a purchase order for €6,000 worth of power tools they had never produced nor had the money to produce. So, he borrowed €10,000 from a friend and has never slowed down since."
In the 1990s the demand for powertool accessories grew very quickly; Zsolt Felcsuti and his father formed MP Meta, which was the first brand name of the company, and the predecessor of MPF Industry Group.
After gaining a market share in Europe, the company started to expand its manufacturing activity and bought up Widenta, which today is the largest grinding wheel and abrasive factory in East Central Europe. For the coordination of the group, MPF Holding was established in 2003.
In 2005 MPF acquires Bajai Bútoripari Kft., one of the biggest furniture factories in Hungary.
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Wikipedia