thyssenkrupp to build €100 mln automotive plant in Hungary
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<w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin; mso-fareast-language:JA;} Germany-based technology group thyssenkrupp will build a new automotive components plant in Jászfényszaru, just east of Budapest, with an investment of €100 million, according to a press release issued by the company today.
Construction of the
new plant, which will produce electronic power-assisted steering systems and
cylinder head covers with integrated camshafts from 2018, is set to begin in
the spring of this year, the press release noted.
It is anticipated that approximately 500 new jobs will be created at the site in the coming years
to accommodate an increase in large orders from international OEMs.
“This investment
follows our strategy towards standardization and cost optimization in the
automotive components business. For the first time in Europe we are localizing
production of two different technologies at one site. That will be an immense
help in offering competitive cost structures,” said Dr. Karsten Kroos, CEO of
thyssenkrupp’s Components Technology business.
“Hungary offers
good conditions for our growth plans. Its central location, good infrastructure
and highly skilled labor force are the main reasons for expanding our business
activities in Hungary,” added Kroos.
thyssenkrupp currently operates a software development center for steering technology in Budapest, where it employs approximately 400 software engineers, and it also opened a front and rear axle assembly plant for Audi Hungaria in Győr, northwestern Hungary, in 2013.
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