(Photo: Gergely Botár/kormany.hu)

The government is supporting the investment of the company, which employs 1,120 staff in Hungary, and provides training to 2,000 civil engineers and architects annually, with a HUF 1.3 bln grant, the minister said, according to Hungarian news agency MTI.

Andor Komlós, the executive manager of Leier Hungária said the plants involved in the investment are located at Jánossomorja, Mátraderecske, Hajdúszoboszló, Devecser, Pécs, and Győr, MTI reported.

The Hungarian unit of Leier had HUF 25.5 bln of total assets last year and HUF 3.87 bln of after-tax profit, MTI added.

“In 1985, Leier was the first Western European company to make the brave decision to realize a major investment under risky conditions on the other side of the Iron Curtain,” Szijjártó said according to official government website kormany.hu.

“Hungary respects the company group’s activities in Hungary to date, and particularly the founder’s commitment to Hungary […] When it is based on mutual respect, cooperation between Hungary and Austria can be among the most successful.”

The minister also noted that Austrian enterprises are fourth on the list of the largest investors in Hungary. He reminded that the Hungarian government has in recent years provided HUF 5 bln in funding to assist Austrian companies in realizing investment projects in Hungary, kormany.hu reported.

“In the new era of the global economy, in which previously unimaginable modern technologies have become part of everyday industrial activities, it is particularly important for Austrian enterprises that represent high added value to continue to view Hungary as a primary location for their investments,” Szijjártó stressed, according to kormany.hu.