Schaeffler to invest HUF 25 bln in Hungary

Pharma

The Hungarian subsidiary of German automotive manufacturer Schaeffler is planning to invest HUF 25 billion at its Hungarian plant in Debrecen, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó announced yesterday, according to reports.

The Hungarian government is supporting the investment with a HUF 4.5 billion grant, and the expansion is expected to create 510 new jobs in Hungary, the minister said, according to Hungarian news agency MTI.

With the investment the Hungarian plant will be expanded and new technology will be installed, Péter Szabó, the CEO of Fag Magyarország Kft. said.

The project is scheduled to wind up by 2017, Rainer Lindner, the regional CEO of Schaeffler for CEE said.

E.ON Survey Shows Support for Renewables, Need for Innovativ... Green Energy

E.ON Survey Shows Support for Renewables, Need for Innovativ...

Hungary in Talks on Attracting More Chinese Investments - Sz... Int’l Relations

Hungary in Talks on Attracting More Chinese Investments - Sz...

Close to 2,500 Companies Apply for EV Subsidies Automotive

Close to 2,500 Companies Apply for EV Subsidies

Olympic Fest of Street Sports in Budapest Coming This June In Budapest

Olympic Fest of Street Sports in Budapest Coming This June

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.