Mercedes Plant Expansion in C Hungary on Schedule
- 9 Apr 2024 6:54 AM
- Hungary Matters
Foreign Minister Péter Szijjártó on Monday inaugurated an 800 million forint (EUR 2.1m) capacity expansion at car-parts manufacturing plant Autoflex-Knott, and said Hungarian companies were increasing their market shares abroad.
At the ceremony held at the plant in Kecskemet, in central Hungary, Szijjártó said the investment would allow the plant to produce parts of higher performance and so expand the company’s share of the European and American markets.
The government supported the investment with a 400 million forint grant, a ministry statement cited Szijjártó as saying.
Szijjártó said the investment would also bring about further training of the work force and foster greener, energy-saving solutions.
Optiwella Invests HUF 860 M in Expansion in S Hungary
Hungarian telecommunications company Optiwella is investing 860 million forints (EUR 2.2m) to expand production and service capacity at its base in Szeged, in southern Hungary, the minister of foreign affairs and trade said.
The investment, aimed at improving Optiwella’s competitiveness on the international market, is being supported with a 500 million forint government grant, Péter Szijjártó said, according to a ministry statement.
Szijjártó said the investment would allow Optiwella to enter the global chip supply chain in more innovative sectors as well, such as the auto industry.
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