BorgWarner, Jabil to invest in Hungarian operations
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U.S. automotive industry companies BorgWarner and Jabil will invest a combined HUF 12bn at their bases in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday, according to a report by state news wire MTI.
The government supports the investments with grants worth a combined HUF 4.4 bln.
BorgWarner will invest a combined HUF 10.9 bln at its base in Oroszlány.
Jabil will invest more than HUF 1 bln in Tiszaújváros.
The investments will preserve 5,300 jobs and create more than 200, Szijjártó said.
BorgWarner Oroszlány managing director Attila Bogar said the government support would strengthen the company's competitiveness. He added that BorgWarner's local unit had not made any layoffs, in spite of the pandemic, but had raised headcount and plans to make more new hires in future.
Jabil Circuit Magyarország chief Tibor Czakó said the investment supported by the government grant would preserve workplaces and contribute to further developments.
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