Bosch to move regional logistics hub to Hungary in 2018
German engineering giant Bosch is moving its Central and East European regional logistics center to Hatvan, about 60 km northeast of Budapest, from 2018, Minister of Foreign Affairs and Trade Péter Szijjártó said today, according to Hungarian news agency MTI. The move will create 250 jobs, Szijjártó said.
Hungaryʼs state-owned National Industrial Park Operating and Development Company will build a HUF 17 billion industrial park on the outskirts of Hatvan for Bosch, which will lease 60,000 square meters for 16 years. Bosch will also commit to raising the value of its orders from local suppliers by EUR 60 million over the next six years as part of the arrangement.
With the establishment of the logistics base in Hatvan, Boschʼs local headcount will rise to 14,700, higher than any other foreign-owned producer in the country.
Daniel Korioth, who heads the Bosch group in Hungary, said the agreement on the logistics center in Hatvan is Boschʼs most important project and will serve as a precedent for the entire group.
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.