US automotive companies to invest HUF 12 billion in Hungary
Peter Szijjarto said BorgWarner is planning to invest 6.6 billion and 4.3 billion forints in two developments in Oroszlany, in north-eastern Hungary, while Jabil will complete a project in Tiszaujvaros, in the north-east, worth just over 1 billion forints.
The projects will help retain 5,300 jobs and create over 200 new ones, Szijjarto said.
The minister said both companies would contribute to the performance of Hungary’s automotive sector, helping the country strengthen its position in the European and global auto industries.
The automotive industry accounts for 30 percent of the output of Hungary’s manufacturing sector, the minister said, adding that every investment in the sector gives a boost to the national economy as a whole.
Attila Bogar, chief executive of BorgWarner’s Hungarian unit, said the company had managed to retain its staff in spite of the pandemic and had even increased headcount.
Tibor Czako, Jabil’s director-general for central Europe, said the company employs more than 4,000 people in Hungary, adding that the new investment would contribute significantly to the retention of its staff and further developments.