Thyssenkrupp to set up HUF 2.2 bln development base in Veszprém
Germany's thyssenkrupp will set up a HUF 2.2 billion engineering development base in Veszprém (about 122 km west of Budapest), Minister of Foreign Affairs and Trade Péter Szijjártó said on Thursday, according to a report by state news wire MTI.
The government is supporting the investment with a HUF 770 million grant, the minister said.
He noted that German businesses operating in Hungary now employ 300,000 people in the country.
Thyssenkrupp's investment is based on a strategic partnership that was strengthened in a contract signed by the company and the government five years ago, he added.
Marc de Bastos Eckstein, managing director of thyssenkrupp Components Technology Hungary said they had already started hirings for the base, which will employ 80 highly qualified development engineers. He noted that Hungary's automotive industry and the proximity of the Veszprém university played an important part in selecting the location for the investment.
The company employs 2,300 people in Hungary, including almost 900 highly qualified engineers at its automotive development center. It has production plants in Jászfényszaru, Debrecen and Győr.
ADVERTISEMENT
Companies Make Net Repayments on Credit in April
Parl't Approves Amendments to Legislation on Judiciary
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.
