Airbus sets up helicopter parts JV with Hungarian state

Transport

Photo by Hans Geel/Shutterstock.com

Aircraft maker Airbus on Friday established a joint venture with the state of Hungary that will manufacture helicopter parts in Gyula (194 km southeast of Budapest).

Photo for illustrative purposes only. (Image by Hans Geel/Shutterstock.com)

Airbus Helicopters CEO Bruno Even and managing director of the state-owned National Aviation Industry Project Company Miklós Kun signed the articles of incorporation of the JV, called Airbus Helicopters Hungary, in which the state will hold a 30% stake.

Gyula mayor Ernő Görgényi said the plant would mark the start of a new economic era for the city.

The plant will employ more than 200 highly-trained workers to make high precision metallic elementary parts for the dynamic systems of helicopters. Production is expected to start in 2022.

Airbus and the government of Hungary announced plans to cooperate on the plant in Gyula in May 2019.

ADVERTISEMENT

Etele Plaza receives occupancy permit Retail

Etele Plaza receives occupancy permit

Poland holds key interest rate at record low Banking

Poland holds key interest rate at record low

Hungary to tighten pandemic restrictions Government

Hungary to tighten pandemic restrictions

Twinz Coffee & Kitchen opens at Árpád Center Food

Twinz Coffee & Kitchen opens at Árpád Center

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.