Schaeffler plans HUF 12 bln investment

Pharma

The Hungarian ball bearing unit of Germanyʼs Schaeffler is planning a HUF 12 bln investment in Debrecen, in eastern Hungary, Foreign Minister Péter Szijjártó announced today.

The project is being supported with a HUF 722 mln investment, which is expected to create 72 jobs, the minister said. The company currently employs approximately 4,000 people in Hungary.

The unit, called FAG, will add production and warehouse capacity to the site as well as new equipment, Hungarian news agency MTI said.

FAG managing director Péter Szabó said the investment would raise capacity of the base to an annual 30 million units from current 20 million.

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