The planned revenue was exceeded by 6.5% or by two million euro, while the plan for 2018 is 36 million euro, the company said in a press release on Wednesday.

"We ended 2017 more than successfully, we practically exceeded all the set goals," manager Aleš Bizjak was quoted as saying.

With growing demand for their products, Bizjak expects the trend to continue.

"It seems that we'll probably post higher revenue than planned this year as well, which will definitely bring new job openings."

The factory in Žiri is a competence centre for hydraulic valves and other hydraulic units within the international group Poclain.

With 300 employees, it is the third largest among eleven companies in the group, which has more than 2,000 employees and whose annual revenue is around EUR 380bn.

With its new French owner, the company has entered new markets over the past decade, turning into one of the most recognisable producers of values for hydraulic transmission and one of the world's leading four in the production of valves for breaks, the release reads.

The quality of its products earned Poclain Hydraulics a special award for quality products from the owner last year.

"The recognition our factory in Žiri has received for the biggest progress within the entire group Poclain in improving the customers' satisfaction really means a lot to us," said quality engineer Ksenija Frelih.