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Continental unveilsHUF 1.2bn investment in Hungary

The Hungarian unit of German automotive industry supplier Continental on Friday inaugurated a net HUF 1.2bn investment at its plant in Budapest.

A grant covered one-quarter of the cost of the investment.

Continental Automotive Hungary built a 1,600qsm warehouse in the first phase of the investment. It also spent about HUF 125m to expand the power network at its base in the capital.

The investment allows increased output and could create more jobs.

About 1,290 people work at the base at present.

The parent company has seven bases in Hungary, employing almost 6,300 people.