Knorr-Bremse invests €17 mln in Hungary
Knorr-Bremse Rail Systems Budapest, developer and producer of braking systems for a range of rail vehicles from trams in Budapest to high-speed trains in Japan, is expanding its plant in Hungary through a €17 million investment, according to a press release issued today.
Rendering of the base in construction.
The Munich-based company is expanding its Budapest-located factory, inaugurated in 2010, by 11,000 sqm to 46,000 sqm. The expanded facility will host operations for the development and production of complete brake control systems and air supply product families.
The company expects the investment to create nearly 300 jobs, expanding the number of employees at the company to over 1,500. The company also anticipates the investment will create hundreds of additional new jobs through the company’s stable local supplier network, the statement added.
“Our continuously expanding product portfolio and technology improvements over the past few years strongly contributed to the growth of the company and it is an important motivation for our employees as well,” said András Sávos, co-managing director of the company. “Many of our employees have been working with us for over a decade and they provide a solid foundation to our reliable operations, just like our newly hired colleagues who will play an essential part in our successful growth,” Sávos added.
The company exports its products to 17 countries around the world. The share of Hungarian suppliers is over 60%. The company partners with more than 600 Hungarian businesses.
The company says it puts key focus on the continuous development of supplier relationships, and provides support in the development of quality, logistics and collaboration competencies.
“Product development has been present at our factory since its foundation in 1995, with Hungarian engineers being the backbone of it. The global success of Knorr-Bremse is underpinned by the work of highly qualified creative Hungarian technicians, skilled workers and engineers who have received a vote of confidence from the Munich-based parent company’s leadership from the very beginning,” said Tivadar Tavaszi, co-managing director of the company.
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