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Investments

Three more German companies boost presence in Hungary

The investments by Villeroy & Boch, Mahle and Beurer will increase Hungarian exports since their export share is over 80 percent.

Three other major German companies with an international presence have decided to invest further in Hungary, Foreign Affairs and Trade Minister Péter Szijjártó announced at a press conference in Budapest on Monday.

He said that the Hungarian government will provide support of HUF 1.2 billion for the three investments worth a total of HUF 4 billion. A total of 1,770 jobs will be protected.

Szijjąó emphasized that Villeroy & Boch holds the leading position in the world market in several segments, and Mahle is the 23rd-largest first-tier automotive supplier in the world with 160 factories and more than 70,000 employees. Meanwhile, Beurer sells 99 percent of its Hungarian production abroad.

Csaba Soós, Managing Director of Beurer-Hungaria Kft., said that they would be expanding their range of medical devices. György Szalay, the managing director of Mahle Compressors Hungary Kft., confirmed the expansion of their existing capacity and said they will bring new activities to their Hungarian factory.

Gábor Hideg, the managing director of Villeroy & Boch Magyarország Kft., said they will be renewing their technology to increase productivity and efficiency.

Hungarian-German economic cooperation has hit a new high despite the ongoing crisis. German companies operating in Hungary have not only maintained their operations here but also brought new investments. German-owned companies continue to be the largest investment community in Hungary, and German companies’ faith in Hungary has not faltered during these difficult times, the minister added. 

Evidence of this is that, after Hungarian-owned companies, German companies made the most use of the Hungarian government’s investment support program launched in the wake of COVID-19.

Source
www.magyarnemzet.hu
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