Hungaryʼs Magnus Aircraft topped out a HUF 5.2 billion plant it is building in Pécs (SW Hungary) on Wednesday. The plant is expected to be completed by the end of the summer, CEO László Boros told the press, as reported by state news wire MTI.
In the first phase of the investment, Magnus Aircraft is building a 2,000 square-meter plant and office building. The company earlier said the plant will turn out at least 200 aircraft a year, employing 105 workers. The second phase will involve construction of a 5,000 sqm composite plant, said Chairman Gábor Tarány.
The Hungarian government is supporting the investment with a HUF 2 bln grant. Tarány said they selected Pécs as the location for the investment because of the "friendly environment," acknowledging the support of the government and the Hungarian Investment Promotion Agency (HIPA).
Magnus Aircraft was the first company in the world to develop a two-seater aircraft made from composite materials and capable of aerobatics. The firm celebrated the topping out with a flyover of two of its aircraft.