Bosch Automotive Steering on track with investments in Maklár
German-owned Bosch Automotive Steering is on track to add 70,000 sqm of production and logistics area to its base in Maklár by 2024, the company said on Monday, according to a report by state news wire MTI.
Bosch is in the process of creating high-tech production and assembly areas, tool shops, a logistics warehouse, and an integrated service and office center at the base.
The company said it is set to wound up HUF 52 billion of investments by the end of 2023. Earlier it was announced that the government is supporting the projects with a HUF 12.3 bln grant.
Bosch Automotive Steering said it spent HUF 8.5 bln on investments and HUF 6.7 bln on R&D last year, and hired more than 200 employees into production and support roles in the past 12 months.
Bosch expects production to pick up in Maklar this year, especially for its Servocom hydraulic steering gear for trucks. Bosch turns out over 3 million steering systems a year at present from its bases in Maklár and in Eger.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.