Gov’t, Knorr-Bremse vow support for local suppliers
pr
The Hungarian government is teaming up with Knorr-Bremse to boost the number of local suppliers in the value chain of the German brake manufacturer’s Hungarian business, economy minister Mihály Varga and the heads of Knorr-Bremseʼs local units announced today when signing a declaration of intent on the cooperative effort.
Under the agreement, Knorr-Bremse will supply Hungarian SMEs with know-how and technology, free of charge; the government will finances the cost of equipment and training necessary to help these companies do business with Knorr-Bremse, state news wire MTI reported state secretary István Lepsényi as saying. At least five such companies are expected to benefit from the partnership with Knorr-Bremse, he added.
The government wants to expand the program to other large companies, and hopes to impact about 100 SMEs altogether, he said. Attila Bíró, managing director of Knorr-Bremse Fekrendszerek, said the group had started working with Hungarian SMEs more than 20 years ago. As a result of these efforts, the ratio of orders from local suppliers now stands at 50%, he added.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.