ThyssenKrupp launched its nearly EUR 100 million project

ThyssenKrupp launched its nearly EUR 100 million project
28.04.2016

The foundation stone for a new factory of the German ThyssenKrupp company constructed in Jászfényszaru has been laid. As a result of the automotive project worth about HUF 30 billion, nearly 500 jobs will be created. After the completion of the greenfield investment, steering systems and cylinder head-integrated camshafts will be manufactured in Jászfényszaru. In its long-term investment strategy, the German company considers Hungary as an important partner, therefore the concern sees further projects possible in our country.

ThyssenKrupp has been engaging in R&D activities in Hungary since 1999. Through its electro-mechanical steering system improvements at the Competence Centre in Budapest, it has become well-known and recognised in the automotive industry all over the world by now. Highly qualified Hungarian engineers develop electric steering systems that apply electric power steering that uses an electric motor instead of conventional hydraulic systems, which continuously consume energy.

Komoly elismerés Magyarország és a hazai befektetési környezet számára, hogy a közel nyolcvan országban jelen levő ThyssenKrupp hazánkat találta alkalmasnak egy újabb gyár megépítésére, s továbbra is bízik a magyarok szakértelmében. A vállalat céljai egybevágnak a magyar kormány célkitűzéseivel: magas hozzáadott értékű beruházásokat hajt végre folyamatosan Magyarországon, és ezzel több száz új állást is teremt. További fontos szempont, hogy a német ipari konszern egyre szélesebb körű kapcsolatot ápol a magyarországi felsőoktatási intézményekkel, többek között a BME-vel és az Óbudai Egyetemmel is.

The production value of the domestic automotive industry in 2015 increased by 17.6% year on year, thus attaining HUF 7,833.3 billion. Based on Q4 2015 figures, the number of employees came close to 150,000 as a result of a more than 13% increase.

Economic cooperation between Hungary and Germany is especially important, and its effectiveness fundamentally determines the performance of the Hungarian economy: Germany is Hungary’s most important foreign trade partner; in 2015 it had a share of 27.3% and 26% in Hungarian exports and imports, respectively.

The results can be measured not only in the economic data, but also in the investors’ mood to invest. According to a survey conducted by the German-Hungarian Chamber of Economy and Industry, 80% of German companies would reinvest their capital in Hungary.