German Bock to invest EUR 1.7m at Western Hungary bases

The local unit of German office furniture maker Bock is investing 606 million forints (EUR 1.7m) at its bases in Noszlop, Ajka and Nemesvámos, in western Hungary, Péter Szijjártó, the foreign affairs and trade minister, said on Tuesday.

The government is supporting the Bock Hungaria investment, which will protect 900 jobs, with a non-refundable grant of 282 million forints, Szijjártó said. Also, the company will create 100 jobs by moving into an empty factory in Nemesvámos, he added.

Szijjártó also signed a strategic partnership agreement with Bock Hungaria.

“Investments are worth gold at this time,” the minister said. He added that the government’s most important task was to protect jobs and create new ones to replace those that are lost.

This requires allies like the businesses that choose developments over layoffs in spite of the difficult circumstances, Szijjártó said.

As we wrote a few days ago, German car maker Mercedes-Benz will invest 141 million euros at its plant in Kecskemét, in central Hungary, to add fully electric vehicles to the production palette, details HERE.

Read alsoApollo Tyres to invest EUR 12.4m at Hungary plant

Source: MTI