Festo opens production hall in Budapest
The Hungarian unit German industrial automation company Festo today inaugurated a production hall for manufacturing cylinders at its plant in Budapest, Hungarian news agency MTI reported
The HUF 4 bln investment by the firm is expected to create 170 workplaces in the plant, László Szabó, state secretary of the Hungarian Foreign Affairs and Trade Ministry said at the event.
With the expansion, the companyʼs headcount will exceed 1,000.
Festo is a family business based ion Esslingen, owner Wilfried Stoll said. He added that the company employs 17,800 people in 176 countries of the world. Last year its revenue reached €2.45 bln.
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