Valeo inaugurates HUF 2.5 bln investment

Pharma

French-owned automotive supplier Valeo Auto-Electric Magyarország wound up a HUF 2.5 bln investment to install nine production lines for electric control units, steering column modules, ignition switches and chargers for hybrid vehicles at its plant in Veszprém, central Hungary, news agency MTI reported today.

The investment, which is expected to create 25 new jobs, thus bringing headcount at the plant to over 1,500, was supported with a HUF 625 mln grant from the European Union, managing director Levente Fonyódi said.

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