French Le Belier eyes HUF 10 bln investment in Hungary

Automotive

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French automotive industry supplier Le Belier will invest an accumulated HUF 10 billion in three of its Hungarian plants, for which the Hungarian government is providing a HUF 2.2 bln grant, Tibor Skobrak, financial director of Le Belier for Central Europe said in Budapest today, according to Hungarian news agency MTI.

Through the investment the three plants in Ajka, Szolnok and Hohács will see a total of 350 jobs created, of which approximately 40% will be for engineers or people with tertiary education.

The cash injection, which will focus on improving the company’s infrastructure, building a production hall and purchasing molding machines, should be wound up by 2018. Currently the company employs a total of 1,236 employees in Hungary and expects EUR 170 million in revenue this year.

Minister of Foreign Affairs and Trade Péter Szijjártó said Le Belier is investing in order to fill a big order for BMW, MTI reported. Le Belier will manufacture engineered aluminum parts for the braking system in BMW 5 series vehicles, MTI added.

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