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Gloster Wins EUR 15 mln BMW Contract

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Photo by Korrektor10/Wikimedia Commons

Listed Hungarian IT company Gloster on Wednesday said in a statement that it won a EUR 15 million software development contract from German car maker BMW, news agency MTI reports.

Gloster-Minero Hungary will continue to develop the global production management system of BMW until 2029 using its own team of trained professionals.

Gloster noted that it will not be necessary to hire new professionals to fulfill the assignment, Gloster's own existing internal staff will do it, without using another subcontractor.

According to the agreement signed on Wednesday, the parties will adjust the project fee three times based on EUR inflation.

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