The company posted sales of EUR 11.5m for 2015, up a fifth over the year before. The plan for this year envisages 10% revenue growth.

The growth rate marks a turnaround for the company, which was saved from bankruptcy by the Japanese partner two years ago.

Daihen invested EUR 8m in the acquisition and the construction of a new research and development centre.

A part of the production from other locations was relocated to Lendava and existing product lines there preserved.

Chairman Matjaž Vnuk told the STA that the long-term strategy of the company remaining a production and R&D centre in Europe was being realised.

The reason Lendava has kept its R&D department is that welding machines for the European market are different than those for Asia.

"It is vital that by becoming the 100% owner Daihen got this team of R&D engineers who can adapt the development to European needs," Vnuk said.

The company currently employs around 140 workers.