Patec to build plant in Hungary

Recycling

Singapore-based Patec will build its first plant in Europe, to make car components, in the Hungarian city of Miskolc, Hungarian news agency MTI reported yesterday. Andy Wong, managing director of Patec's Hungarian unit, and Miskolc mayor Ákos Kriza signed a declaration of intent on the investment on Thursday.

Wong noted that Patec had been present in Miskolc for five years. He cited the stable and well-trained local labour force, the infrastructure and the knowledge base provided by the city's university as reasons for the decision to make the investment in Miskolc. About 400 people will work in the 15,000 sqm plant and it will manufacture stamped parts, window wipers, and exhaust systems for the Volkswagen group. Last year, Patec's Hungarian unit had net revenue of HUF 332 mln.

ADVERTISEMENT

Equilor analysts forecast 4.5% GDP growth for 2022 Analysis

Equilor analysts forecast 4.5% GDP growth for 2022

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

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.