U.S.-owned electronics and telecom equipment manufacturer Sanmina-SCI Hungary Kft. will spend HUF 6.2 billion on developments at its base in Tatabánya (NW Hungary) by 2022, Minister of Foreign Affairs and Trade Péter Szijjártó said Thursday.
The government is supporting the developments with a HUF 1.2 bln grant. The investment will create 220 high value-added jobs in a few years, the minister said.
“What swayed Sanmina’s decision were the low burdens on employment, the modern training and education system and the flexible job market regulations, in addition to which Tatabánya’s heavy industry traditions also represent a foundation for a modern investment,” Szijjártó was cited as saying by official government website kormany.hu.
Managing Director Károly Hoffmann said the investment amount will mainly be spent on state-of-the-art automated production lines. Sanmina has spent more than HUF 7 bln in Tatabanya over the past five years and the plant has become one of the company’s largest European production centers as a result, he added.
In addition to the 40,000 square-metre plant, Sanmina also employs a further 30 people in its plant in the Alsózsolca Industrial Park in northeast Hungary, which is involved in precision metalworking and the assembly of telecommunications switchboards and base stations.
In 2016, the company, which was established in 1980, realized global turnover of USD 6.5 bln, increasing to almost USD 7 bln in the 2017-2018 business year, noted kormany.hu.