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Govt signs strategic pact with Takata

Recycling

The Hungarian government signed a strategic cooperation agreement with Japanese automotive industry supplier Takata in Budapest today, Hungarian news agency MTI reported.

State secretary Péter Szijjártó said the agreement is in line with Hungary’s intentions to become a production center in Europe, and a center for R&D, as well. He added that Takata is planning to spend 4.5% of its revenue on R&D this year.

Takata chairman Stefan Stocker called the agreement "a milestone" and said it paved the way for further cooperation between the company and the country in the field of R&D.

Takata launched construction of a €68 mln airbag and car safety systems plant in Miskolc in the spring. The plant will employ 1,000 people.

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