Are you sure?

LuK Savaria undertaking HUF 15 bln of developments

LuK Savaria, the Hungarian unit of German automotive industry supplier Schaeffler Group, is undertaking HUF 15 billion of developments at its base in Szombathely (W Hungary), HR director Rita Vörös Kenyeres told MTI on Tuesday.

LuK Savaria will complete a HUF 3.3 billion, 19,000sqm plant at the base by the end of next ear, Alpokalja-Online said earlier. The investment is being supported with a HUF 1 billion grant.

Kenyeres said the HUF 15 billion of developments at the base would create 700 jobs by the end of 2014. Headcount will rise from 1,700 to 1,900 by the end of this year and to 2,400 by the end of 2014, she added.

LuK Savaria, which makes mainly clutch systems and components for transmissions, had revenue of €460 million last year. It supplies parts to BMW, Audi, Ford, Fiat, Peugeot, Mercedes, Isuzu, Opel and Hyundai.