Autoliv to expand Hungarian base with HUF 11 bln investment
Stockholm-based automotive safety company Autoliv will spend HUF 11 bln on an expansion at its base in Sopronkövesd in western Hungary, the Ministry of Foreign Affairs and Trade announced on Monday. HUF 1.5 bln of the costs are to be derived from state subsidies.
Autoliv has plans to build a 15,000sqm seatbelt plant in Sopronkövesd by 2018, and the expansion is projected to create 700 jobs. The unit currently operates out of a 19,000 sqm plant. The company is committed to boosting its share of local suppliers from 5% to 20% for feedstock and from 30% to 50% for machinery, according to Foreign Minister Péter Szijjártó.
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