thyssenkrupp’s Hungarian investment will create 110 new jobs
The German company has just held the topping-out ceremony at its site in Jászfényszaru, some 50 kilometers east of Budapest, which means that thyssenkrupp Components Technology Hungary Kft.’s EUR 42 million investment has taken a major step forward.
With the investment, the company aims to boost the production of electric steering systems "to a great extent" and create nearly 110 new jobs, according to a report from the Hungarian Investment Promotion Agency (HIPA).
thyssenkrupp has been operating in Hungary since 1999, with everything from R&D, manufacturing and assembly. Besides its headquarters in Budapest, the company has sites in four different locations in the country.
This latest project is a major capacity expansion at its Jászfényszaru site where electric steering systems will be produced. The area of the facility is set to increase by 11,000 square metres. According to HIPA the production units and lines – as well as the machinery – will be up and running by the end of 2025 after the completion of the new production hall.