French Le Belier eyes HUF 10 bln investment in Hungary



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.


Business Sentiment Up, Consumer Confidence Down in September Analysis

Business Sentiment Up, Consumer Confidence Down in September

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


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.