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Gov’t, Knorr-Bremse vow support for local suppliers

Initiatives

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The Hungarian government is teaming up with Knorr-Bremse to boost the number of local suppliers in the value chain of the German brake manufacturer’s Hungarian business, economy minister Mihály Varga and the heads of Knorr-Bremseʼs local units announced today when signing a declaration of intent on the cooperative effort.

Under the agreement, Knorr-Bremse will supply Hungarian SMEs with know-how and technology, free of charge; the government will finances the cost of equipment and training necessary to help these companies do business with Knorr-Bremse, state news wire MTI reported state secretary István Lepsényi as saying. At least five such companies are expected to benefit from the partnership with Knorr-Bremse, he added.

The government wants to expand the program to other large companies, and hopes to impact about 100 SMEs altogether, he said. Attila Bíró, managing director of Knorr-Bremse Fekrendszerek, said the group had started working with Hungarian SMEs more than 20 years ago. As a result of these efforts, the ratio of orders from local suppliers now stands at 50%, he added.

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