Tuesday, May 17, 2016. 09:03

Conti-Tech Fluid completes €12 mln investment in Hungary

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ContiTech Fluid Automotive Hungária, a Hungarian subsidiary of German automotive supplier Continental, finished an expansion valued at nearly €12 million at its Hungarian base in Makó on Friday, according to reports.

Screengrab of ContiTech products. (Photo: official website)

The firm expects the investment to boost capacity at the base by 30%, managing director Mihály Nagy said at the opening ceremony according to Hungarian news agency MTI.

Half of the investment was covered with a state subsidy, awarded on the condition that the company will create 216 jobs, and this number is likely to be exceeded, the manager said, according to MTI. The company employs more than 3,400 people in Hungary at its bases in Makó and Vác.

The expansion included a 4,000 sqm production space, a communal space, office building and lorry park at the base as well as a 5,000 sqm warehouse, according to reports.

The manager noted that heating and cooling hoses manufactured at the plant are used in every fifth car produced in Europe.

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