Hungary’s LAC and Romania’s Softronic to set up joint engine production
The chief executives of Hungarian company LAC Holding and Romania’s Softronic signed on Tuesday a document on setting up a joint venture that would manufacture railways engines in Hungary, national news agency MTI reported.
Economy ministry state secretary Béla Glattfelder said the Hungarian government and the ministry would support the launch of the Hungarian engine production. The JV could create 50 new jobs on the short term and 250 jobs on the longer run, among them highly qualified jobs, according to Glattfelder.
The two companies announced last December plans to set up a joint venture 51% owned by Softronic and 41% by LAC Holding. They said they were seeking the site for the Hungarian plant, which is planned to completed by the end of 2015, and produce the first jointly manufactured engine in 2016.
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.