German automotive industry supplier Koch Prazisionsdrehteile plans to invest Ft 550 million at its units in Hungary in order to meet growing demand, business daily Napi Gazdaság reported on Thursday.
Koch will invest Ft 250 million at its base in Gerjen, southwest Hungary, creating 60 jobs. The plant in Gerjen makes electrical motors.
The company will invest Ft 200 million at its facility in nearby Györköny, which makes ABS parts. The investment will create 40 jobs. Although the plans must still be finalized, preparations are underway.
At the same time, the company prepares to expand capacity at its plant in Szekszárd, also in southwest Hungary, the plant's managing director Bertalan Szabó told the paper.
In 2005, Koch invested €3 million at its operations in Hungary. The plant in Szekszárd added more than 100 employees to its staff of 250 as a result. The plant had revenue of nearly €16 million in 2006.