Indiaʼs SMG opens car bumper plant

Telco

pexels

Indian automotive industry supplier Samvardhana Motherson Group (SMG) inaugurated a bumper plant in Kecskemét, central Hungary, on Thursday, Hungarian news agency MTI reported. It will supply German car maker Daimlerʼs plant in the city.

The company received a HUF 7.7 billion government grant for the project, Hungarian Prime Minister Viktor Orbán said at the inauguration event.

Orbán noted that this is not the first investment of the company in Hungary. SMG unit SMR Automotive Mirror Technology Hungary already makes rear-view mirrors at plants in Mosonszolnok and Mosonmagyaróvár in the northwest of the country.

According to earlier reports, the HUF 31 bln bumper plant in Kecskemét will employ 450 people and supply German car maker Daimlerʼs plant in the city with bumpers from 2018. It will turn out 5,500 bumpers a day.

For its part, Daimler has carried out significant investments in Kecskemét recently, launching investments of HUF 185 bln at its base in the city last year and most recently opening a training center in September.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.