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Bosch to invest HUF 9 bln in Hungary by 2012

German engineering company Robert Bosch Kft will invest HUF 9 billion by 2012 at its Budapest development center (ECB), daily Napi Gazdaság reports, citing ECB chief executive Jan Peter Stadler.

The Hungarian unit of Bosch moved part of its automotive R&D operations to the capital in 2000. The Budapest center's engineering staff has grown in numbers from the initial 5 to 500 today. Bosch plans to add 120 more next year and another 200 in 2012. The company's R&D spending rose HUF 2.7 billion last year and will hit HUF 13 billion this year, managing director Thomas E. Beyer said. (BBJ)