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Maxon to transfer production to Hungarian unit

Swiss high-precision drive-system manufacturer Maxon AG will transfer production of whole motors and rotors to the company's Hungarian unit, Maxon Motor Hungary, which has so far been producing spare parts only, the business daily Napi Gazdaság reported on Thursday.

Maxon Motor Hungary will make a HUF 1.1 billion (€4.13 million) investment, including HUF 280 million in non-refundable government support, at its plant in Veszprém this year to make the technological developments necessary to accommodate the new manufacturing operations.

The unit, which currently employs 165 people, may hire new workers as a result of its expanded production profile and a rise in orders.

Maxon Motor Hungary generated turnover of HUF 903 million, according to preliminary data, in 2009, down from HUF 932.9 million in 2008, but still up from HUF 757.3 million in 2007. (MTI-ECONEWS)