Daimler launches expansion of Hungarian base through HUF 185 bln investment
The Hungarian unit of German car manufacturer Daimler is investing HUF 185 billion at its base in Kecskemét, expanding it with a new car body plant as well as improving existing facilities, Mercedes-Benz Manufacturing Hungary announced today according to reports.
The company expects the 99,000 sqm car body plant to be finished by 2018, on which Daimler is spending approximately HUF 80 bln. The remainder of the investment will be used to purchase efficient and innovative machinery for already existing production lines, with which Daimler expects to further expand production capacity.
Daimler’s Hungarian plant opened in 2012 through an investment of €1 bln, Hungarian news agency MTI reported. The company currently employs almost 4,000 workers and relies on 32 local suppliers, MTI added.
During the announcement of the new investment, Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó acknowledged the relationship between Mercedes and Hungary entering into a “completely new dimension”, and added that with this project Daimlerʼs total investments in Hungary will surpass HUF 500 bln.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.