Sanmina to spend HUF 6.2 bln on developments in Tatabánya


U.S.-owned electronics and telecom equipment manufacturer Sanmina-SCI Hungary Kft. will spend HUF 6.2 billion on developments at its base in Tatabánya (NW Hungary) by 2022, Minister of Foreign Affairs and Trade Péter Szijjártó said Thursday.   

The government is supporting the developments with a HUF 1.2 bln grant. The investment will create 220 high value-added jobs in a few years, the minister said. 

“What swayed Sanmina’s decision were the low burdens on employment, the modern training and education system and the flexible job market regulations, in addition to which Tatabánya’s heavy industry traditions also represent a foundation for a modern investment,” Szijjártó was cited as saying by official government website

Managing Director Károly Hoffmann said the investment amount will mainly be spent on state-of-the-art automated production lines. Sanmina has spent more than HUF 7 bln in Tatabanya over the past five years and the plant has become one of the company’s largest European production centers as a result, he added.

In addition to the 40,000 square-metre plant, Sanmina also employs a further 30 people in its plant in the Alsózsolca Industrial Park in northeast Hungary, which is involved in precision metalworking and the assembly of telecommunications switchboards and base stations.

In 2016, the company, which was established in 1980, realized global turnover of USD 6.5 bln, increasing to almost USD 7 bln in the 2017-2018 business year, noted


Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


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.