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.
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