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ThyssenKrupp starts work on HUF 11 bln plant

German automotive parts manufacturer ThyssenKrupp today launched a HUF 11 billion greenfield investment in Hungary’s second city of Debrecen, according to a press statement sent to the Budapest Business Journal.

Once finished, the 18,000 sqm factory will be turning out springs and stabilizers for the automotive industry. ThyssenKrupp expects to start production next year, with a turnout of more than six million products.

By 2020, the company is expecting to create 250 jobs in the plant, and has already started recruitment. Staff will be trained in Hungary and Germany.

The factory currently under construction will be ThyssenKruppʼs fourth in the country. Additionally, the firm operates a steering technology competence center in Budapest, where almost 600 engineers work on software and hardware solutions for electromechanical steering systems.