Samsung Cheil Industries, the plastics division of Korean conglomerate Samsung, on Tuesday inaugurated a plastic granulate plant in the Hungarian city of Tatabánya (NW Hungary).
The 7,000sqm plant will turn out 20,0000 tons of the granulates a year, to be used in the production of electronics and automotive industry parts, said Samsung Cheil Industries CEO Baek Hwang.
The plant employs 80 staff.
The size of the investment was not revealed, but a sign at the site said the construction of the plant was supported with HUF 224 million in funding from the state of Hungary and the European Union.
Korean electronics maker Samsung has three other plants in Hungary, which together employ more than a thousand people
Producing journalism that is worthy of the name is a costly business. For over 30 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.
