© pichetw dreamstime.com Electronics Production | October 19, 2017
Ten Pao opens Hungarian manufacturing plant
A new 2’600 square metre electronics plant was recently inaugurated Miskolc, northeast Hungary by Hong Kong’s Ten Pao.
The opening of the plant is said to be the first step in a EUR 14.6 million (HUF 4.5 billion) investment, reports the Budapest Business Journal citing state news. As of now the facility employs about 17 people, but the plan is to increase headcount to over 300 employees by 2021. Kwong Yee Hung, Chairman-CEO of Ten Pao, reportedly said that the local municipality and the Bosch group, along side the Ministry of Foreign Affairs and Trade, all played a vital role in the company’s decision of where to set up its first unit outside of Asia.