Continental lays cornerstone of 7th plant in Hungary
German automotive manufacturer Continental laid the cornerstone of a EUR 100 million plant in Debrecen (Hungaryʼs 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.
Continentalʼs 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 Debrecenʼs 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 Continentalʼs Transmission Business Unit, and Hans-Jürgen Braun, head of Continentalʼs 30 electronics plants. Deputy Minister of Foreign Affairs and Trade Levente Magyar and Debrecen Mayor László Papp were also in attendance.
"The extension of Continentalʼs 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 Continentalʼs seventh unit in Hungary. Initially, products of the Transmission and Sensors & Actuators business units will be produced in the 7,000 square-meter facility.
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