Tungsram gets stimulus to boost competitiveness
Image by Remus Rigo / Shutterstock.com
Minister of Foreign Affairs and Trade Péter Szijjártó on Wednesday presented Hungarian lighting company Tungsram with a contract for HUF 282 million in stimulus to boost competitiveness during the coronavirus crisis, state news wire MTI reports.
Remus Rigo / Shutterstock.com
The company will put the money toward a HUF 565 million investment at its base in Zalaegerszeg, preserving 118 jobs, Szijjártó said.
Tungsram chairman-CEO Jörg Bauer said the company will boost capacity at its special glass components division, making its colored glass bulb production more cost-efficient.
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.