ContiTech plans investments to expand production - paper

Automotive

Germany’s Continental AG is planning to carry out investments to expand the output at its Hungarian unit ContiTech Fluid Automotive as the company’s order stock has been increasing steadily, the business daily Vilaggazdasag said on Monday.

The Hungarian company, which makes tubes for automotive cooling and heating equipment, employs 1,500 workers at the Mako unit (SE Hungary) and 700 workers in Vac (near the capital).

The company’s managing director told the paper that the plants, which had to introduce a four-day working week at the start of 2009, now are operating in three shifts, and the company has been steadily exceeding its earlier output and revenue records in the past two years.

The company has spent EUR 3m on investments in 2009 and EUR 7.9m last year in Hungary, and plans to invest EUR 3.3m this year. The paper said the parent company is considering a EUR 5m investment in Nyiregyhaza (E Hungary).

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

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.