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Electronics Production | May 30, 2005

Elcoteq to relocate European HQ to Hungary

Finnish EMS-provider Elcoteq Network Corporation has decided to transfer its European headquarters from Espo, Finland, to Budapest.
Elcoteq Network Corporation is setting up an office in Budapest, Hungary. The new facility will be the office for the management of Elcoteq's geographical area (GA) Europe and initially will be the location for the president of GA Europe, the director of GA Europe operations as well as some sales and account directors. The office will be opened on June 15, 2005 and by the end of the year will have around 10 persons.

The establishment of this new office close to the Central European market is part of Elcoteq's internalization strategy, one aim of which is to bring Elcoteq's operations as close as possible to the end-markets and to Elcoteq's own respective facilities.

"We wish to operate close to our customers wherever they are in the world. Budapest is an ideal location for our customers and Elcoteq's European operations; we have our largest manufacturing plants in Hungary, while Budapest offers good transport connections to elsewhere in Europe. We also believe that the new office will improve Elcoteq's recruitment capabilities in Europe," says Mr Jukka Jäämaa, Chief Operating Officer of Elcoteq Network Corporation.

In addition to this new office, Elcoteq has two manufacturing plants and an NPI (New Product Introduction) Center in Pécs, Hungary, that together employ over 4,500 people. The plants produce both terminal products and communications network equipment.

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