Valeo Hungary to invest HUF 10 bln

Int’l Relations

The Hungarian subsidiary of French-owned vehicle parts manufacturer Valeo is planning to expand its base in Veszprém through an investment of HUF 10 billion, according to reports.

The investment of Valeo will be supported with a grant of HUF 1 bln from the Hungarian government, Ministry of Foreign Affairs and Trade state secretary László Szabó said today, according to Hungarian news agency MTI.

The plant in Veszprém employs a staff of approximately 1,900, out of whom 500 work in research and development, the state secretary added.

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