F. Segura to double Hungarian unit area, capacity
F. Segura Hungária, the local subsidiary of the Spain-based car parts manufacturer, has announced plans to expand its Hungarian unit through an investment of HUF 5.3 billion, supported with a HUF 680 million grant from the Hungarian government, Minister of Foreign Affairs and Trade Péter Szijjártó announced today, according to reports.
After almost doubling the local plant’s area to 25,000 square meters, the company expects it will have created approximately 100 jobs, raising staff numbers to 285. Additionally, the company also expects to double its annual turnover in Hungary due to the foreseen capacity increase after scheduled completion in 2018.
The Segura group has invested a combined EUR 65 million in Hungary in the past ten years, noted Francisco Segura Hervás, president of the Segura group.
The company manufactures automotive parts for brands such as Audi, Mercedes, BMW and Porsche. F.Segura Hungária had net profit of EUR 3.9 mln on revenue of EUR 28 mln in 2015, Hungarian news agency MTI reported.
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.