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Thyssenkrupp plant inaugurated with Hungarian government grant

A HUF 33.5 billion automotive parts plant in Jászfényszaru, 72 kilometers east of Budapest, was inaugurated by Thyssenkrupp Components Technology last Friday. The investment, which will create about 500 jobs by 2019, was supported with a grant of more than HUF 10.5 bln from the government.

Thyssenkruppʼs leadership with Prime Minister Viktor Orbán (at center left) at the official opening. Photo: Photo Gergely Botár/kormany.hu

The plant will turn out camshafts and steering systems. Thyssenkrupp is also building a plant to produce springs and stabilizers in Debrecen (eastern Hungary), where serial production is due to begin before the end of this year. The company already operates an automotive systems factory in Győr (western Hungary) and a software development competence center in Budapest.

Thyssenkrupp employs around 1,100 workers in the automotive sector in Hungary. Thyssenkrupp Presta Hungary had revenues of more than HUF 46.6 bln in the period between October 1, 2016, and September 30, 2017, up 3% from a year earlier.