Bosch Hungary completes HUF 36 bln investment

Pharma

The Hungarian unit of German engineering giant Bosch yesterday completed a HUF 36 billion capacity expansion at its steering systems manufacturing base in Maklár, northeastern Hungary, according to a press release issued late yesterday.

The project, which has created 130 jobs, was supported with a HUF 2.7 bln European Union and Hungarian state grant, Bosch Hungary CEO Javier Gonzalez Pareja, who was recognized as the most important foreign CEO in Hungary last year, said. 

Robert Bosch Automotive Steering currently has a headcount of 960, Hungarian news agency MTI reported.

The unit was earlier called ZF Lenksysteme Hungária but was renamed after Bosch bought out its partner ZF Friedrichshafenin in the 50-50 joint venture, MTI added.

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