Otto Fuchs Hungary buys 20 hectares for expansion


Wheel manufacturing company Otto Fuchs Hungary has announced the acquisition of a 20-hectare site within the 62-hectare Tatabánya Industrial Park, approximately 60 kilometers west of the capital, with the intention to create a manufacturing plant of tens of thousand of square meters.

Otto Fuchsʼ current Tatabánya site

The National Industrial Park Management and Development Company (NIPÜF) says the deal was sealed last December, after what it called a successful year, according to a press release sent to the Budapest Business Journal. 

Currently employing some 520 people in the country, Otto Fuchs Hungary said it decided on the Tatabánya location due to the cost factor, as well as the experience, expertise, loyalty, and motivation of workers at the Tatabánya site. The company also analyzed several locations in Romania and Slovakia before settling on Hungary. 

"We contacted NIPÜF with the help of the economic development organization of the municipality of Tatabánya, and we got to know a business partner with a competitive market vision in every respect," said Tibor Menyhárt, business director of Otto Fuchs Hungary. "Their colleagues responded quickly and professionally to all our questions and needs, taking economic development as the common goal into account."

During 2018, the state-owned NIPÜF bought 800 hectares of territory for industrial park development in 14 cities, alongside completing more than 74,000 sqm of new developments, and selling 45 hectares of construction sites already prepared for projects.

"As part of the National Industrial Park Concept, we have not only committed to the construction of new facilities, but also to designing and selling areas suitable for development," said Zsombor Török, CEO of NIPÜF. "We have excellent locations and facilities in more than a dozen towns, ideal for both domestic and foreign logistics and manufacturing companies."


Gov't Extends Interest Rate Freeze to Student Loans Banking

Gov't Extends Interest Rate Freeze to Student Loans

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Retail Sales in Hungary up 0.6% y.o.y. in Oct Retail

Retail Sales in Hungary up 0.6% y.o.y. in Oct

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...


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.