Magnus Aircraft tops out HUF 5.2 bln plant in Pécs

Industrial

FB

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.

ADVERTISEMENT

Financial Loss Puts 4iG in Red Figures

Financial Loss Puts 4iG in Red

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Money Motion 2024: The Future of FinTech Unfolds in Zagreb Fintech

Money Motion 2024: The Future of FinTech Unfolds in Zagreb

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

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.