Continental lays cornerstone of 7th plant in Hungary
German automotive manufacturer Continental laid the cornerstone of a EUR 100 million plant in Debrecen (Hungary始s second city, some 231 km east of the capital) on Monday, creating 450 new jobs, according to a press release sent to the Budapest Business Journal.
Continental始s guests taking part in the ceremony
As reported earlier this year, the government is supporting the investment with a HUF 10.6 billion grant, covering around one-third of the total cost. Continental expects production to start in the third quarter of 2020, and aims to increase its manufacturing activity in automotive electronics at the new plant, said the press release.
"We created a high-tech smart factory that satisfies the requirements for energy-efficient green projects," said Lukas Juranek, head of the new facility, at the greenfield site in Debrecen始s Industrial Park South. "Continental in Debrecen will not only produce excellent quality products in a highly digitalized environment, but will also offer prominent career opportunities for workers living in the region."
The most important factor Continental weighed when it picked Debrecen as the site for the plant was the highly skilled local labor force, state news wire MTI cited Juranek as saying. Continental has forged strong ties with the University of Debrecen and the local vocational training center to tap that labor pool, he added.
The ceremony was attended by Stephan Rebhan, head of Continental始s Transmission Business Unit, and Hans-J眉rgen Braun, head of Continental始s 30 electronics plants. Deputy Minister of Foreign Affairs and Trade Levente Magyar and Debrecen Mayor L谩szl贸 Papp were also in attendance.
"The extension of Continental始s manufacturing presence in Hungary is an important part of our growth strategy in Europe because we expand our capabilities on the continent as well with this, and can therefore better satisfy the increasing demand of our customers for automotive products," said Braun.
The Debrecen factory is Continental始s seventh unit in Hungary. Initially, products of the Transmission and Sensors & Actuators business units will be produced in the 7,000 square-meter facility.
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga Meets With Chinese Business Leaders
AutoWallis May Increase Planned Sales Due to Strong Performa...
International Writers Amongst Visitors at PesText Festival
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.
