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Valeo expands in Hungary with another investment
Valeo Auto-Electric Magyarország continues to expand its manufacturing and R&D complex in Veszprém, Hungary, with a greenfield project.
More than 200 new jobs are said to be created in connection with the EUR 60 million investment. The project is in cooperation with the Hungarian Investment Promotion Agency (HIPA). French Automotive supplier, Valeo, has been manufacturing sensors, electronic control units and switches at its Veszprém plant since 1998. Last year, its sales exceeded HUF 147 billion (EUR 467.84 million). The electronic and plastic parts used by Valeo Auto-Electric Magyarország come from within the country, mostly from Székesfehérvár, Tatabánya and Tiszaújváros. Its partners include Citroën, Peugeot, Renault and Seat. The manufacturing complex also has an R&D laboratory where about 500 employees are engaged in research and development. Valeo is has been expanding its capacities with continuous developments in Hungary. An EUR 8 million project was completed in 2015, and the development of the Veszprém plant was started from more than EUR 33 million last year. And now the company has reached another milestone, as it announced a more than EUR 60 million greenfield project, HIPA writes in a press release. As part the development, in addition to a partial modification of the existing building, the development laboratory will be expanded by an additional 550 square metres, and a new 4’000-square metre warehouse will also be constructed. The objective of the project, which will create 220 new jobs, is to set up a high level of automated (industry 4.0) production environment. Once completed some 30 robots and 12 cobots will be installed, which in addition to providing for a capacity increase, will allow for the redeployment of human resources to labour-intensive areas.
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