The new equipment is part of a HUF 4.9 billion investment the company is implementing to better meet European demand for its products. The project is due to be completed early next year.
László Szabó, state secretary at the Ministry of Foreign Affairs and Trade, noted that the 1,600 U.S. companies operating in Hungary together employ more than 100,000 people in the country and their combined investments exceed USD 9 bln. The United States is the biggest non-European investor in Hungary, he added.
Tim Myers, Group President of Alcoa Transportation and Construction Solutions, said the company has invested USD 70 million in its Hungarian unit and European operations over the past ten years, and has plans for further investments.
Alcoa-Kőfém Székesfehérvári Könnyűfémmű posted revenues of HUF 185.7 bln in 2014. It employs almost 2,200 people and exports 98% of its output.
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