Hungarian gov’t, Alpine sign agreement
The Hungarian government and Japanese car audio and navigation system manufacturer Alpine signed a “strategic agreement” today in Budapest, Hungarian news agency MTI reported. The agreement was signed by state secretary of the Ministry of Foreign Affairs and Trade Levente Magyar and Alpineʼs chairman for Europe Toshinori Kobayashi.
The current investment of $39 mln is expected to double the plant’s capacity by the end of this year, and create 500 jobs, Hungary’s foreign minister Péter Szijjártó said earlier. At the ceremony Kobayashi said that he did not choose Hungary to invest in “by accident” 17 years ago.
The company has a headcount of approximately 900 people in Biatorbágy, in the outskirts of the capital; it is the company’s only production base in Europe.
Alpineʼs Hungarian unit had revenue of more than €200 mln last year, MTI noted.
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.