Rehau-Automotive lays cornerstone of HUF 40 bln bumper plant

Pharma

MTI/kormany.hu

The government has concluded a strategic partnership agreement with the Swiss Rehau Group, providing HUF 7.1 billion in non-returnable funding towards the establishment of the company’s second production plant in Hungary.

Local subsidiary Rehau-Automotive Kft. laid the cornerstone of a HUF 40 bln bumper plant in Újhártyán, Pest County, last Friday, which will create 652 jobs. Rehau-Automotiveʼs other plant is in Győr (NW Hungary).

“The government only concludes strategic partnership agreements with corporations whose activities have a perceivable effect on the Hungarian national economy. To date, the government has signed such strategic agreements with 78 companies,” Minister of Foreign Affairs and Trade Péter Szijjártó was quoted as saying by official government website kormany.hu.

Szijjártó noted that the companies with whom the government has concluded strategic agreements employ a total of some 175,000 people in Hungary, and have increased their ratio of Hungarian suppliers by 4%, representing tens of millions of euros in increased revenues for Hungarian small and medium-sized enterprises.

Markus Grundmann, CEO of Rehau-Automotive, noted that there are currently 400 people working at Rehau’s automotive division in Hungary, of 7,000 worldwide. With respect to the new plant in Újhártyán, he explained that the company will construct a 60,000 square-meter production hall, which will be the most modern factory within the company’s automotive industry network.

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