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Waisbord Electric to set up plant in Hungary

Waisbord Electric Ltd., an Israeli maker of mobile phone parts and chips, will set up its first European manufacturing base in Hungary to expand in European Union markets, Napi Gazdaság reported.

Waisbord will start production in rented space in Kétújfalu, south Hungary, and will initially employ 180 people, the paper reported, citing József Kis, the mayor of the village.
Waisbord, which will also make light switches and bulletproof vests for Europe, may build a multibillion-forint production base in Kétújfalu next year, Napi said. The Israeli company will add a logistics center in 2007 and plans to employ 500 people in a few years, Kis told the paper.