Govt signs strategic cooperation agreement with Jabil Circuit

Hungary's government on Tuesday signed a strategic cooperation agreement with the local unit of American contract electronics manufacturer Jabil Circuit. The agreement was signed by state secretary for foreign affairs and external economic relations Péter Szijjártó and Jabil Circuit Magyarország managing director Richárd Somogyi. Jabil Circuit Magyarorszag has a service centre in Szombathely, a production base in Tiszaújváros and an after-market service centre in Pécs. The unit, which provides work for more than 9,000 people, had revenue of more than HUF 348 billion in 2011. Szijjártó said the unit would expand its base in Szombathely by 8,000sqm in the near future as a result of talks with the government. Somogyi said the agreement was an acknowledgment of the company's role in Hungary's economic life. Jabil Circuit has invested HUF 75 billion in the country over the past 13 years, and the strategic agreement further strengthens its local commitment, he added. Jabil Circuits Magyarország aims to raise the proportion of its Hungarian suppliers, thus creating workplaces and boosting the country's exports, Somogyi said. Since the summer, the government has signed strategic partnership agreements with the local units of Coca-Cola, Alcoa, Daimler, Suzuki, Hankook, General Electric, Microsoft, Stadler Rail, Tesco, IBM, Tata Consultancy Services, Nokia Siemens, National Instruments and Audi as well as with Hungarian drugmaker Gedeon Richter. It expects to sign about 40 such agreements.