Magyar Suzuki sets up JV with Toyo Seat to build Ft 2 bln factory
Japan's Toyo Seat and Magyar Suzuki Rt have set up a joint venture to build a Ft 2 billion seat factory in the Nyergesújfalu industrial park, north of Budapest, Yoshihiro Takahama, who heads Toyo Seat's Hungarian unit, said on Tuesday.
The factory will supply Magyar Suzuki's plant in nearby Esztergom. The plant is expected to turn out 1.2 million seats worth some Ft 20 billion in 2008. The plant will employ 200 people.
Toyo seat set up a unit in Hungary in 2003. It currently employs 830 people at its plant in Százhalombatta, south of Budapest, which makes seat frames for Suzuki and other carmakers in Europe.
Toyo Seat has already purchased a four-hectare plot from the local council of Nyergesújfalu where it will build a 7,000 square meter production hall. The company will be the first to build in the city's industrial park.
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.