Continental unveilsHUF 1.2bn investment in Hungary
The Hungarian unit of German automotive industry supplier Continental on Friday inaugurated a net HUF 1.2bn investment at its plant in Budapest.
A grant covered one-quarter of the cost of the investment.
Continental Automotive Hungary built a 1,600qsm warehouse in the first phase of the investment. It also spent about HUF 125m to expand the power network at its base in the capital.
The investment allows increased output and could create more jobs.
About 1,290 people work at the base at present.
The parent company has seven bases in Hungary, employing almost 6,300 people.
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.