Fisher, the control valve unit of Emerson, bought the property from Philips in 2013 and has currently moved into the building after a more than HUF 3 bln investment, Hungarian news agency MTI said.
Chairman-CEO David N. Farr said Emerson plans to move another division into the newly inaugurated site in the near future.
The Fisher division currently employs 550 employees, while Emerson’s other division Valve Automation in the city has a headcount of 50.
Emerson also has a sales unit in Budapest and a manufacturing base in Iklad, on the outskirts of the capital, MTI added, noting that the company employs about 2,000 people in Hungary.
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