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SCHAEFFLER GROUP TO BUILD HUF 23.5 BN PLANT IN HUNGARY

 

German automotive industry supplier Schaeffler will build a 23.5 billion forint (EUR 69.8m) plant in Szombathely, in western Hungary, company and government officials announced. Construction of the plant, with 15,000sqm of production area, will start next February and finish by year-end, said Tibor Szigeti, managing director of local unit Schaeffler Savaria. The plant is being constructed at a greenfield site about 3km from Schaeffler’s existing base, he added. Péter Szijjártó, the foreign affairs and trade minister, said the government is supporting the investment creating 150 jobs with a 5 billion forint grant.