The investment will receive HUF 700 million in state subsidies.
In 2020, the turnover of Gravic Hungary Kft, located in Debrecen, reached almost EUR 6 million, with a pre-tax profit of EUR 1,732,000. The plant currently employs 74 people.
The new agreement will see the capacity of their plant and its workforce nearly double.
He said that investments are constantly coming to Hungary, which will ensure the long-term growth of the economy. “Now the Gravic group, which also provides packaging/wrapping technology for the largest international automotive and electronics companies, has decided to double its capacity in Debrecen,” the minister of foreign affairs said. He added that the project would make the Hungarian plant the most significant manufacturing unit within the group.
The Gravic plant will produce packaging and wrapping solutions for companies that are “fundamental” to the growth of the Hungarian economy, such as Volkswagen, BMW, Continental, Bosch, and Samsung, he continued.
Szijjártó concluded by pointing out that French companies play an essential role in ensuring the growth of the Hungarian economy.