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Franceʼs GMD to build HUF 14.5 bln vehicle parts plant

Franceʼs GMD group will build a HUF 14.5 billion vehicle parts plant in Dorog (northern Hungary), Minister of Foreign Affairs and Trade Péter Szijjártó announced on Thursday, as reported by state news wire MTI.

The government is supporting the investment, which will create 240 jobs, with a HUF 2.9 bln cash grant, Szijjártó said.

Competition to attract the investment was "significant," he added, noting that GMD could have picked any of the 14 countries in the world where it is present.

Szijjártó explained that GMD has won a big order from Franceʼs PSA, which recently took over the Opel plant in Szentgotthárd (western Hungary), and has also acquired a company in Bonyhád (SW Hungary) which makes interiors for Lamborghini and Bentley cars. The government is negotiating with GMD on related capacity developments, he added.

GMD Chairman Alain Martineau said the plant in Dorog would become the biggest aluminum casting member in the group.