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TDK Hungary winds up HUF 1 bln R&D project

Japanese-owned TDK Hungary Components Kft. said on Tuesday it has wound up a HUF 1.03 billion research, development and innovation project, state news wire MTI reported. TDK won HUF 258 million in EU and state grant money for the project.

The company announced the launch of the project to develop the next generation of aluminum electrolytic capacitors in December 2018, MTI recalled.

TDK Hungary said it employs 2,500 people at its base in Szombathely in western Hungary. It posted revenue of EUR 254 mln in its business year that ended on March 31, 2018.