Bosch starts phase two of Hungarian headquarter

The total value of the development will reach the amount of HUF 30 billion (EUR 100.7 million) until 2015. Covering an area of 50,000 square meters, the complex is being built in two phases. The first building of the construction was commenced in 2011 and will be completed in the summer of 2013. Then, more than 350 associates from Bosch's Hungarian development center as well as the commercial business units, the administrative departments and Bosch Rexroth Budapest will move in. The second building is expected to be completed by 2015. It will be the new home for the departments for research and development (R&D) activities, which is continuously increasing in number in the rented premises. At the ceremony, Javier González Pareja, representative of the Bosch Group in Hungary said: "The investment in the Budapest R&D center is of strategic importance and signals a confirmation of Bosch’s long-term commitment to its presence in Hungary.” Hungary’s Minister for National Economy, Mihály Varga emphasized: "The most important aim for the government is to generate a dependable economic policy, boosting employment and investments in the country. In all three of these areas, Bosch is a partner in the renewal of Hungary. With this investment, the company is sending a message to talented, internationally leading Hungarian engineers that they do not need to go abroad, because opportunities are also knocking on their doors here at home.”