US vehicle manufacturing firm Modine Manufacturing Company is to invest €10 million in its plant to be built in Mezőkövesd, NE Hungary.
The cornerstone for the 5,400 sqm plant was laid on Wednesday, with production scheduled to start in one year.
Modine Manufacturing Company, set up in 1916, is active on five continents employing more than 8,000 people. Its business partners include BMW, John Deere, Caterpillar and Daimler.
The company set up its Hungarian subsidiary Modine Gyöngyös ten years ago.
The company plans to produce engines complying with Tier IV and EURO 6 emission standards at the new plant, to be fitted into Daimler, Deutz and MAN commercial vehicles.
The new plant is expected to employ 600 people.