Suzuki to upgrade Hungarian plant

Recycling

The Hungarian subsidiary of Japanese carmaker Suzuki is planning to boost its research, development and innovation through a HUF 5.3 billion investment, which will focus on upgrading its current Hungarian facility in Esztergom, the manufacturer announced yesterday, according to reports.

The costs of the investment projects will be financed from Suzuki’s own resources (HUF 2.71 bln) and by an European Union grant (HUF 2.59 bln), according to Hungarian news agency MTI. The upgrade will chiefly focus on the plant’s production and logistics system. 

As part of the upgrade, the plant will also be prepared for the introduction of laser welding techniques, and the development of cost efficient polymers for automotive manufacturing will also be carried out.

Suzuki has been awarded the EU funds as a part of a consortium consisting of Bay Zoltan Applied Research Public Nonprofit, PEMÜ MƱanyagipari Zrt. and PĂĄzmĂĄny PĂ©ter Catholic University, which will jointly establish a research and development network, MTI reported.

The Hungarian unit of JapanÊŒs Suzuki had EUR 1.97 bln in sales revenue last year, up 28% compared to 2014, MTI noted.

ADVERTISEMENT

Farm Input Prices Climb 5.4% in Q1-Q3 Crops

Farm Input Prices Climb 5.4% in Q1-Q3

India's G20 Presidency, Dawn of New Multilateralism - Narend... World

India's G20 Presidency, Dawn of New Multilateralism - Narend...

AutoWallis Exceeds Entire 2022 Revenue, Profit in 9 Months Automotive

AutoWallis Exceeds Entire 2022 Revenue, Profit in 9 Months

TikTok Commits to Improved Consumer Communication in Hungary Social

TikTok Commits to Improved Consumer Communication in Hungary

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.