Freudenberg to double workforce in Hungary
Tuesday, November 8, 2005, 16:30
Germany's Freudenberg plans to invest several million euros at its units in Hungary, doubling its number of employees over the next three years, Jorg Sost, a member of Freudenberg's board of directors, announced on Tuesday. Freudenberg currently employs 900 people at its Hungarian factories, which make seals and vibration control technology used in vehicles and machines. The company also sells dust cloths and gloves in Hungary.
Freudenberg has invested 40 million in Hungary over the last ten years, Sost said. The company invested 100 million in the region during the same period, and plans to invest the same amount over the next three years, he added. This year, Freudenberg expects revenue in Hungary of 60 million, 50% more than in 2004, a spokesman for the company said, declining to reveal the company's profits. Freudenberg's biggest unit in Hungary is Freudenberg Simmering Hungary, which makes seals for transmissions. The plant was recently expanded and now makes all of Freudenberg's transmission seals.