Kirchhoff Hungária winds up HUF 3 bln investment

Telco

German-owned automotive industry supplier Kirchhoff Hungária completed a HUF 2.9 bln expansion at its base located in Esztergom (near Budapest), managing director Géza Körtvelyessy told Hungarian news agency MTI today.

The current investment created 49 new jobs and was subsidized by a HUF 745 mln EU grant. The investment allowed for the installation of a new technology to facilitate order filling for the Daimler plant in Kecskemét (in central Hungary).

Kirchhoff Hungária, which now provides jobs for more than 700 employees, generated a revenue of HUF 28 bln in 2013 – half of which came from domestic sales.

Kirchhoff Hungária produced auto parts solely for Suzuki between 2004-2010, then expanded its range following the crisis. It has orders until 2017 from another seven car manufacturers including Daimler, Peugeot, Citroën, Volkswagen, Skoda, Ford, BMW and General Motors.

 

ADVERTISEMENT

Almost half of Hungarians get fringe benefits, survey shows Analysis

Almost half of Hungarians get fringe benefits, survey shows

Operative corps for economic recovery decides on further mea... Government

Operative corps for economic recovery decides on further mea...

Healthcare Roadshow Highlights Innovation, Screening Awarene... Interview

Healthcare Roadshow Highlights Innovation, Screening Awarene...

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.