U.S. Flowserve eyes HUF 4.3 bln investment in Hungary

Pharma

American industrial machinery manufacturer Flowserve Corporation is planning to establish a financial services center in Debrecen, through an investment of HUF 4.3 billion, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest today, according to reports.

Foreign Minister Péter Szijjártó announces the investment today. (Photo: MTI/Noémi Bruzák)

The Hungarian government is supporting the investment with a state grant of HUF 1.5 bln, Szijjártó said, adding that more than 400 new jobs would be created in Hungary through the establishment of the center.  

Flowserve decided to establish the center in the Hungarian city because of the qualifications and language skills available in the local labor market, Flowserve Hungary Services managing director Rory Carrick said, according to Hungarian news agency MTI.

The company is planning to expand the center in 3-5 years, when the company expects to offer accounting and financial services in ten languages for Flowserveʼs clients in 20 countries, Carrick added.

Currently, approximately 90 shared service centers or SSCs operate in Hungary, employing altogether 37,000 people, Szijjártó stressed.

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