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Bosch sets up HUF 1.6 bln SSC at Hungary power tool plant

German engineering giant Bosch has wound up a HUF 1.6 billion project to establish a shared services centre at its power tools plant in Miskolc, Robert Bosch Power Tool Kft managing director László Fűkő said yesterday.

Minister of Foreign Affairs and Trade Péter Szijjártó said the government is providing Robert Bosch Power Tools with a HUF 358 million grant for the investment, which the company promised would create 205 workplaces.

Fuko said the service center had been operating since last fall and now employs 260 people, more than initially expected. The cooperation agreement with the government has been finalized and the company will use the grant money to cover payroll costs, he added.

The Bosch group employs 14,200 people in Hungary.