Knorr-Bremse winds up HUF 700 mln development project

Telco

Knorr-Bremse Fékrendszerek, the Hungarian unit of German braking systems manufacturer Knorr-Bremse, today wound up an electronic braking system development for approximately HUF 700 mln in a consortium with the Budapest University of Technology, the company told Hungarian news agency MTI.

The project, which began in 2012, was supported with a HUF 485 mln European Union grant.

The system will chiefly be used in heavy commercial vehicles. According to the company, the main added value of the newly developed system is the new model-based axle load calculation and control procedure, which is an EU requirement for regulations governing the safety of commercial vehicles.

The company has a total headcount of approximately 2,000 in its Hungarian units in Budapest and Kecskemét, central Hungary. The company had a revenue of HUF 39.8 bln in 2013.

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