South Korea's Samsung plans to build a €72 million plasma television module plant in Hungary, a local Samsung director said on Tuesday.
Samsung SDI Hungary Kft has started building the plant at its base on the outskirts of Budapest and plans to complete it by March of 2007, said Tamás Szirmay, who heads Samsung SDI, one of the company's four units in Hungary.
The 20,000 square meter plant will produce modules, the biggest and costliest part of plasma TVs, and will create 550 jobs. The new plant will also bring more suppliers to Samsung's Hungarian base.
Samsung has four companies in Hungary. In addition to Samsung SDI, it has a plant in Jászfényszaru, called Samsung Electronics Rt, which makes TVs; a plant in Szigetszentmiklós, called Samsung Elektromechanikai Rt, which makes TV parts; and a trading company.