Festo opens production hall in Budapest

Telco

wikimedia

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.

ADVERTISEMENT

Farmland Prices Fall for First Time in a Decade Land

Farmland Prices Fall for First Time in a Decade

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Debrecen Developing Eastern Portion to Become Residential Construction

Debrecen Developing Eastern Portion to Become Residential

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.