HUF 2 billion+ worth of R&D investments have been announced

Balluff Elektronika Kft.'s HUF 2.1 billion research and development investment in Veszprém is also improving the dynamics of the Hungarian economy.

Minister of Foreign Affairs and Trade Péter Szijjártó announced that the government will provide HUF 518 million in non-refundable support for the German company’s investment, which will protect the jobs of 900 people; 30 highly qualified engineers will also be hired.

Balluff’s development seeks to make even more modern sensors for industrial automation, which are used in the production of equipment for the automotive, pharmaceutical and food industries. The minister added that the investment is thus important because Hungary’s performance is mostly determined by these sectors 

Balluff’s sensors can be found in the cars of Audi, General Motors and Mercedes, so the development will lead to an increase in the performance of the Hungarian automotive industry, Szijjártó added. 

The minister said that the government has accelerated the change in the dynamics of the Hungarian economy even during the pandemic so that the country can move from a production-oriented economy to a research and development-oriented economy as quickly as possible. Balluff’s investment fits perfectly into this strategy.

Balluff’s products are present in 68 countries, and there was serious competition for this project. But the confidence in Hungarian professionals and the success of the company’s Hungarian leaders convinced the group’s corporate leaders that this R&D center should be in Hungary.

Tamás Ötvös, managing director of Balluff Elektronika Kft., said that Balluff is a medium-sized German company, with its second-largest unit in Veszprém. The company manufactures industrial electronics, among other things.

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