• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
Bosch to invest EUR 43.8m at Hungary baseBosch to invest EUR 43.8m at Hungary baseBosch to invest EUR 43.8m at Hungary baseBosch to invest EUR 43.8m at Hungary base
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • BREAKING: Austria detaches Hungarian trains of Western railway network

  • Official price list: e-vignette prices to skyrocket in Hungary in 2024

Support us
Alpár Kató Alpár Kató · 12/01/2019
· Business

Bosch to invest EUR 43.8m at Hungary base

Bosch Hungary Miskolc

Miskolc, 2019. január 11. A német Bosch konszern miskolci autóipari gyára, a Robert Bosch Energy and Body Systems Kft. épülete 2019. január 11-én. A kft-ben 2021-ig tartó projekt keretében egyebek mellett új generációs termékek gyártósorait és tesztberendezéseket telepítenek. A kormány a 14,1 milliárd forintos beruházáshoz 2,65 milliárd forint vissza nem térítendõ támogatást nyújt. MTI/Vajda János

German engineering giant Robert Bosch will invest 14.1 billion forints (EUR 43.8m) at its automotive unit in the northeast Hungarian city of Miskolc, company executives told a press conference on Friday.

An investment project costing over fourteen billion forints (EUR 43 million) is commencing at Bosch’s plant in Miskolc, Robert Bosch Energy and Body Systems Ltd; amongst others, production lines and testing equipment for next generation products will be realised within the framework of the project, which will be completed in 2021.
At the press conference to announce the investment, Minister of Foreign Affairs and Trade Péter Szijjártó told reporters:

“The Government is supporting the 14.1 billion forint investment with 2.65 billion forints (8.23 million euros) in non-returnable funding”.

Bosch Hungary Miskolc

Photo: MTI

The investment will enable the production and modernisation of new generations of existing products – engine cooling fans and motors for electric bicycles – as well as of new products such as camshaft gearboxes.

The Minister also spoke about the fact that last year the Hungarian economy succeeded in prospering amidst extreme global economic conditions, 2018 saw the dawn of a totally new era, the economy’s Hungarian participants stood their ground, and the Hungarian economy produced a “uniquely” good, excellent performance and a record year.

“This also required the reorganisation of our investment promotion activities”, he said. “The international economy not only regards Hungary as an assembly location, but also a location for research and development; large foreign companies continue to have confidence in Hungary, in its political and economic stability, and in the expertise of its workers”, he added.

“Companies have never before invested as much money as they did last year; 98 major investments were announced by enterprises with a total value of 1380 billion forints (EUR 4.3bn), towards which the Government contributed with 135 billion forints in non-returnable cash funding”, Mr. Szijjártó said.

Bosch Hungary Miskolc

Photo: MTI

With relation to Bosch, the Minister said it is one of the world’s largest companies, and is continuously expanding its Hungarian activities and making regular new investments. The company is also one of the determining factors of Hungarian-German economic cooperation, in which it plays a key role. Mr. Szijjártó highlighted that Germany is Hungary’s most important partner: 27 percent of Hungarian exports are bound for Germany, German enterprises are the number one investors in Hungary, and 29 percent of working capital comes from Germany. 28 out of the 98 major investments announced last year are German.

Bosch has been present in Hungary for over 120 years, since 1898. The companies nine Hungarian subsidiaries, which employ a total of some 15 thousand people, realised over 244 billion forints (EUR 74.6 million) in turnover in 2017. The total turnover generated by all of the Group’s plants exceeded 78 billion euros in 2017.

Bosch Hungary MiskolcFinancial Director of Robert Bosch Energy and Body Systems Limited Frank-Stephan Kupfer spoke about the fact that thanks to the latest investment, the strategic importance and outstanding position of the automotive industry plant in Miskolc will increase further in global comparison. This company was founded in 2003, manufactures automotive industry parts and electric motors, and employs over 2.5 thousand people, he told the press.

The press conference to announce the investment occurred at the same time as the 200 millionth product rolled off the production line in Miskolc. This was an iBooster electromechanical brake booster, which makes the motors of hybrid and electric vehicles more efficient, while shorter brake distances and the electronic steering system assure greater safety.

Photo: MTI/kormany.hu

Source: Cabinet Office of the Prime Minister/MTI

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
economy Germany industrial investment
Share

Hot news

  • Government decision turns the Hungarian property sector upside down

  • Travel time from this Hungarian city to Serbia will be much higher than promised

  • French university with the best management courses worldwide celebrated Budapest campus

  • New fuel price cap on horizon in Hungary? Brutal fuel shortages could be coming

  • Agriculture minister: diversity and forests must be preserved

  • Researchers may detect the earthly remains of 15 Hungarian Medieval kings

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.

Thank you!

You have successfully joined our subscriber list.

.

Contact us

About us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
Government decision turns the Hungarian property sector upside down

Government decision turns the Hungarian property sector upside down

Read More
Travel time from this Hungarian city to Serbia will be much higher than promised

Travel time from this Hungarian city to Serbia will be much higher than promised

Read More
French university with the best management courses worldwide celebrated Budapest campus

French university with the best management courses worldwide celebrated Budapest campus

Read More
New fuel price cap on horizon in Hungary? Brutal fuel shortages could be coming

New fuel price cap on horizon in Hungary? Brutal fuel shortages could be coming

Read More
Agriculture minister: diversity and forests must be preserved

Agriculture minister: diversity and forests must be preserved

Read More
Researchers may detect the earthly remains of 15 Hungarian Medieval kings

Researchers may detect the earthly remains of 15 Hungarian Medieval kings

Read More
<b> What happened today in Hungary? – 29 September, 2023 </b>

What happened today in Hungary? – 29 September, 2023

Read More
Ryanair cuts flights: cancellation starts from end-October

Ryanair cuts flights: cancellation starts from end-October

Read More
Hungary’s drinking water supply in danger?

Hungary’s drinking water supply in danger?

Read More
Hungarian restaurants among the world’s best of the best

Hungarian restaurants among the world’s best of the best

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?