Franceʼs GMD to build HUF 14.5 bln vehicle parts plant
Franceʼs GMD group will build a HUF 14.5 billion vehicle parts plant in Dorog (northern Hungary), Minister of Foreign Affairs and Trade Péter Szijjártó announced on Thursday, as reported by state news wire MTI.
The government is supporting the investment, which will create 240 jobs, with a HUF 2.9 bln cash grant, Szijjártó said.
Competition to attract the investment was "significant," he added, noting that GMD could have picked any of the 14 countries in the world where it is present.
Szijjártó explained that GMD has won a big order from Franceʼs PSA, which recently took over the Opel plant in Szentgotthárd (western Hungary), and has also acquired a company in Bonyhád (SW Hungary) which makes interiors for Lamborghini and Bentley cars. The government is negotiating with GMD on related capacity developments, he added.
GMD Chairman Alain Martineau said the plant in Dorog would become the biggest aluminum casting member in the group.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.