Japan's Musashi has started building a Ft 1.5 billion paint plant in Oroszlány, northwest Hungary, the company announced on Wednesday.
Musashi decided to build the plant because of the large number of its clients in Europe that need factory-made coloring for their mobile telephones and entertainment electronics, said Zoltán Lazók, in charge of development at the Oroszlány industrial park, where the plant will be built.
The plant will be Musashi's first in Europe. The company also operates plants in Malaysia, Hong Kong, China and Korea. The investment will create 50 new jobs, and the plant is expected to generate annual revenue of Ft 8 billion after the first three years, Lazók said.