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Temic Telefunken to receive state support for investment

The Hungarian government will give a yet unspecified amount of support for a HUF 7 billion investment by Temic Telefunken Microelectronic Hungary, the Ministry of National Development and the Economy told MTI on Monday.

The contract on the support was signed on Friday and its amount will be announced later, the ministry said.

Temic, which is part of a member of international car industry supplier Continental group, will start manufacturing hybrid engine electronics and ABSs in Budapest in 2013 as a result of the investment, the Hungarian Investment and Trade Development Agency (ITD Hungary) said.

The HUF 7 billion investment, which started last year and will be completed in 2012, will create 175 new jobs.

Temic Telefunken Microelectronic Hungary currently makes semi-finished car electronics. (MTI-ECONEWS)