Bridgestone inaugurates upgrade, capacity expansion

Pharma

Japanese tire maker Bridgestone on Tuesday inaugurated a HUF 9.2 billion technology upgrade and capacity expansion at its plant in Tatabánya (NW of Budapest), state news agency MTI reported.

Minister of Foreign Affairs and Trade Péter Szijjártó said the government supported the investment, which is creating 100 jobs, with an HUF 826 million grant.

The investment will raise output from an annual 5 million to 7.2 mln units by 2020, while a 10,000 square-meter warehouse will boost storage capacity at the base by 180,000 to 600,000 tires.

Melinda Topolcsik, managing director of Bridgestone Tatabánya, said the local unit aims to sell 40% of its output directly to carmakers in future, and to fully convert the base into a "smart factory" by 2023.

Bridgestone has invested close to HUF 130 bln at the Tatabánya base so far. The unit had revenue of HUF 66.5 bln last year, MTI noted.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.