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Schneider Electric Plows HUF 5.3 bln Into Hungarian Plant

Manufacturing

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France's Schneider Electric is investing HUF 5.3 bln at its base in Zalaegerszeg (182 km southwest of Budapest), plant director László Petrényi said on Wednesday, marking the factory's 30th anniversary, according to a report by news agency MTI.

Around HUF 4.3 bln is being invested in new production lines, Petrényi said. Headcount rose by 150 to 600 last year and is set to increase by 60 this year, he added.

Schneider Electric employs over 2,200 people in Hungary, at four production units, a regional logistics base and its shared services centers, country director Zsolt Veres said. The company's turnover in Hungary was close to EUR 1 bln last year, he added.

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