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Auto vendor builds plant in Hungary

Singapore-based automotive industry supplier Patec is building a €5 million - €8 million plant in the Hungarian city of Szikszó, the company's first in Europe, owner Michael Wee announced.

The plant, to provide work for 70 people, is expected to reach full capacity at the end of this year or the beginning of next, Wee said. It will supply Honda, Toyota, Volkswagen and Peugeot.

Patec already has plants in China and Indonesia. The company decided to build a plant in Europe to be closer to its partners there. Patec considered sites in Poland, Slovakia and the Czech Republic as well as several cities in Hungary before deciding on Szikszó. (MTI – Econews)