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Szijjarto: TDK investing HUF 26 billion in Szombathely

TDK could create 250 jobs with a 26 billion forint (EUR 67m) investment in Szombathely, western Hungary, Peter Szijjarto, the minister of foreign affairs and trade, said at the inauguration of a building at the Japanese-owned company's base in the city on Friday.

The investment programme is adding 12,000sqm of production area at the base, he said. TDK is bringing production of electronics for the automotive industry that aren’t made anywhere else in Europe to Szombathely, the minister added.

He said Hungary had faced “tight competition” in attracting the investment, adding that it was supported with 6.7 billion forints from the state.

In a press release, TDK said it was bringing production of sensors to the base that were not made elsewhere in the European Union as the manufacturing base for the products at a TDK base in Indonesia reached its capacity limit.

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