Szijjarto: Autoflex-Knott gets state grants for upgrade in Hungary, expansion in US
The government is awarding Autoflex-Knott, which makes parts for trailers, grant money to support an upgrade of its plant in Kecskemet, in central Hungary, and to set up a manufacturing base in the United States, Peter Szijjarto, the minister of foreign affairs and trade, said on Tuesday.
The government will award Autoflex-Knott 277 million forints (EUR 753,000) to match a 553 million forint investment at its plant in Kecskemet that will preserve more than 420 jobs and ensure the company maintains its leading position on the European trailer axles market, Szijjarto said.
The government will cover half of the 800 million forint cost of setting up a manufacturing base in the US, he added.
