Thyssenkrupp to set up HUF 2.2 bln development base in Veszprém

Deals

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.

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