Continental winds up HUF 1.4 bln investment in Budapest

Recycling

German automotive industry supplier Continental wound up a HUF 1.4 bln investment at its base in Budapest, plant head Tamás Szabó informed Hungarian news agency MTI.

Continental extended the plant’s capacity in order to produce steering assist products, Szabó said, adding that the plant is expected to turn out approximately 1 million units each year.

The investment was supported with a HUF 178 mln European Union grant, which is expected to raise headcount at the base by 90.

Continental Automotive Hungary has invested almost HUF 15 bln at its plants in Budapest and Veszprém since 2009. The company currently employs more than 6,000 people in Hungary.

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