The Hungarian unit of German engineering company Robert Bosch has signed a contract with the National Development and Economy Ministry on HUF 1 billion in state support for a HUF 9 billion expansion of its R&D center in Budapest, the Bosch group's regional communications manager Ferenc Ficzere told MTI on Tuesday.
Bosch has been in talks with the ministry on support for the investment since 2008, Ficzere said. Under the agreement, signed last week, the R&D centre is to add 200 university graduates to its staff by 2012 and employ them until at least the end of 2017, he added.
The centre currently employs 430 engineers.
The company will take a decision on whether to keep all 200 of the new staff by the middle of 2011, Ficzere said. If the industry situation is such that the unit can keep only 150 of the new hires, it will take just HUF 750 million of the state subsidy, he added.
Bosch set up the R&D centre in 2005. The company employs almost 7,000 workers in Hungary at plants in Miskolc, Budapest, Eger and Hatvan. (MTI-ECONEWS)