Japan's NHK Spring to build factory in Hungary
Japanese NHK Spring will build a 11,000 sqm automobile suspension plant in Hungary, and expects production to start in December with a capacity to produce 3.5 million coil springs and 1.2 million stabilizers by 2020, Japanese news portals said, citing an announcement by the company.
Hungarian foreign ministry state secretary Levente Magyar negotiated the investment details in Tokyo on March 3, the press department of the Ministry of Foreign Affairs and Trade said, in response to a query by Hungarian news agency MTI.
Earlier, Magyar said a Japanese company would invest more than HUF 15 bln in Hungary, and in turn create 200 jobs.
The factory is expected to be built in Komárom-Esztergom county in northern Hungary, also home to the local unit of Japanese carmaker Suzuki. The Hungarian news agency added that the plant will be a unit of NHK Spring's Dutch subsidiary.
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.