Mitsuba to double capacity at base in Hungary
Japanese automotive industry supplier Mitsuba is planning to invest €13.5 million at its base in Salgótarján, doubling capacity, Hungarian government officials and the company announced today, according to Hungarian news agency MTI.
Screengrab from companyʼs website.
The company will receive a HUF 850 million grant for the investment, which is expected to create 150 new jobs at the plant, which currently employs more than 320 people.
The expansion of the base’s production halls and warehouses, as well as the addition of new production lines, is scheduled to be completed by the end of 2017, Matsumura Tomoyuki, Mitsubaʼs director for Hungarian operations, said.
Japan takes second place among non-EU investors in Hungary, with 150 Japanese companies active in the country including 47 operating production capacities, MTI noted. Japanese companies have made investments worth €4 bln and employ more than 25,000 people.
The Hungarian Investment Promotion Agency (HIPA) is currently negotiating another six Japanese investment projects, which would create another 1,200 jobs, MTI cited foreign ministry state secretary László Szabó saying.
The Hungarian plant of Mitsuba, which is a leading supplier to car manufacturers such as Honda, Nissan, Renault, Mitsubishi, Suzuki, Subaru, Ford, Volkswagen and BMW, exports more than 90% of its output, mainly to European markets, MTI said.
Mitsuba Automotive Systems of Europe Autóalkatrész Gyártó had revenue of €76.3 mln in 2015.
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