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Leier Hungaria Ltd. to spend 23 million euros on expanding its Hungarian plants

Leier Hungaria Ltd. to spend 23 million euros on expanding its Hungarian plants

According to government’s official site, Leier Hungaria Ltd., the Hungarian subsidiary of Austrian construction industry group Leier, is spending 7 billion forints (EUR 23 million) on expanding its six Hungarian construction material plants; the Government is contributing 1.28 billion forints in non-returnable funding to the project, which will create 101 new jobs”, Minister of Foreign Affairs and Trade Péter Szijjártó announced at a press conference on Friday in Budapest.

“In 1985, Leier was the first Western European company to make the brave decision to realise a major investment under risky conditions on the other side of the Iron Curtain. Hungary respects the company group’s activities in Hungary to date, and particularly the founder’s commitment to Hungary”, the Minister highlighted, noting that: “When it is based on mutual respect, cooperation between Hungary and Austria can be among the most successful”.

“Austrian enterprises are fourth on the list of the largest investors in Hungary”, the Minister said, adding that he is proud of the fact that in recent years the Government has provided 5 billion forints (EUR 23 million) in funding from the budget to assist Austrian companies in realising investment projects in Hungary. “The Government is glad if Austrian companies are successful and generate profit, because without this they could not be expected to realise further investments and create new jobs”, he said.

“In the new era of the global economy, in which previously unimaginable modern technologies have become part of everyday industrial activities, it is particularly important for Austrian enterprises that represent high added value to continue to view Hungary as a primary location for their investments”, Mr. Szijjártó stressed.

The Minister also mentioned that Leier Hungaria Ltd. currently employs 1120 people and organises training courses and programmes for 2000 construction engineers and architects, enabling them to gain expertise with regard to the latest construction industry technologies.

With its seven Hungarian concrete production factories and two brick factories, the Leier Group plays a determining role in the Hungarian structural building materials production industry, and has spent over 30 billion forints (EUR 98 M) on its Hungarian investments over the past ten years. In 2016, Leier Hungaria Ltd. realised a balance sheet total of 25.505 billion forints and after tax profits of 3.879 billion forints.

The Group operates 40 plants and facilities in seven countries – Austria, Hungary, Poland, Slovakia, Romania, Croatia and Ukraine – and at seasonal peak times the number of employees exceeds two thousand.

Photo: Gergely Botár/kormany.hu

Source: kormany.hu – Press release

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