Dana lays cornerstone of fourth plant in Hungary
The Hungarian subsidiary of U.S.-based Dana Light Vehicle Driveline Technologies laid the cornerstone Wednesday of a gear plant it is building in the city of Győr through an investment of EUR 46 million, with a HUF 2.9 billion grant, according to reports.
The 13,000 square-meter plant, an addition to Danaʼs local unit of three plants present here since 2005, is expected to start production in January 2019, with an expected annual output of more than 45,000 automotive gear units, Hungarian news agency MTI reported.
The current staff of 600 is expected to be expanded by 200 as the result of the new investment.
Dana Hungary supplies Land Rover, Volkswagen, Jaguar, John Deere, Ford, General Motors and Manitou, MTI reported, adding that public records show the Hungarian unitʼs net revenues reached EUR 225 million in 2015.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.