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FAG plans Euro 40 mln plant

FAG Hungary Kft, owned by Germany's Schaeffler group, is planning to build a Euro 40 million ball bearing factory in the Debrecen (SE Hungary) industrial park, Lajos Fülöp, the company's CFO, said yesterday, confirming an earlier announcement by Debrecen Mayor Lajos Kosa, MTI-Eco reported. The factory will make ball bearings for gear shifts. FAG has been producing ball bearings at a leased site in Debrecen since 1999 at which it currently employs 750 people. When the new factory opens, FAG will hire 350 more people.