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FAG Hungary, a unit of Germany’s Schaeffler group, has inaugurated a 25 billion forint (EUR 77bn) bearings factory in Debrecen, in eastern Hungary, creating 500 jobs, the foreign affairs and trade minister said. The investment was supported with a 3.2 billion forint grant by the Hungarian government, Péter Szijjártó said at the opening ceremony. The minister said Debrecen is the host city of one-third of the record 98 large-scale foreign investment projects implemented or launched in Hungary last year, due to no small extent to a BMW factory to be built there.
Regional head Rainer Lindner and Chief Operating Officer Andreas Schick both confirmed that Schaeffler is committed to the developments in Debrecen. Headcount at FAG is now close to 1,600, which could be increased to 2,000 in the coming years, they said. Managing director of FAG Magyarország Péter Szabó said the company, established 20 years ago, now produces 25 million tapered roller bearings and 500 million tapered rollers a year on an area of 58,000sqms.