Maxon Motor Hungary Kft. to enlarge its plant in Veszprém

The Hungarian subsidiary of the Swiss Maxon, Maxon Motor Hungary Kft. will extend its electromotor plant in Veszprém with an investment worth some HUF 4.2 billion, and the project will create 102 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó announced at a press conference.

The Minister told the press: the Hungarian Government is providing a non-repayable grant of one billion and fifty million forints for the project.

The company will build a new production facility with a ground space of 900 square metres in Veszprém where they will introduce the new technology of precision injection moulding, and the development division of Maxon Motor’s production facilities, too, will be moved to Hungary.

The plant will supply a significant percentage of the elements to be made at the Veszprém production centre to NASA

which will be used in the electromotors of the next Mars exploration rovers, Mr Szijjártó said.

He highlighted: the project will provide an opportunity for Hungarian engineers to join the international space technology industry, while it will equally provide an opportunity for Hungarian small and medium-sized businesses to become the suppliers of high-tech production and development activities.

The output of the machine industry increased by 5 per cent in the first seven months of the year in Hungary, while the production value exceeded HUF 8,500 billion. With a 6 per cent rise, the number of those working in the sector exceeded 377 thousand which amply reflects the ongoing increase of the capacity of the machine industry, he added. The Minister said thanks to the company for having brought its cutting-edge technology project to Hungary, by virtue of which Hungary will be placed on the map of space industry.

Mr Szijjártó also told the press that Switzerland had become the 12th most important investor in Hungary, the volume of trade between the two countries reached EUR 881 million with a 9 per cent increase in the first seven months of this year, and Hungarian exports reached EUR 500 million. Hungarian-Swiss economic and trade relations are successful, and there is nothing to be ashamed of in this department, he said.

Peter Grütter, Maxon Motor’s Chief Operating Officer for production and technology informed the press that production started on the site established in 2001 on a floor space of 300 square metres in 2002. The plant has been extended in multiple stages in the past 15 to 16 years, and at present production is taking place in an area of 40 thousand square metres, in a building with a ground space of 14 thousand square metres. The company manufactures some one million products annually and employs 380 workers.

Peter Grütter, Maxon Motor’s Chief Operating Officer, photo: MTI

Zoltán Kovács, Minister of State at the Prime Minister’s Office, Commissioner for County Development highlighted: the economy of Veszprém County is gaining in strength, partly as a result of the grants provided by the Government. This has a significant impact on the local tax revenues and employment, and the number of active job-seekers has decreased to one half in the county.

Gyula Porga, Mayor of Veszprém spoke about the agreement in words of praise as it contributes to the expansion of industrial production. He told the press that the city’s industrial output had increased by 40 per cent between 2010 and 2015, while local trade tax revenues had increased by 50 per cent in Veszprém between 2010 and 2016.

The businesses active in the city had access to significant development funds,

and during the period to come development funds worth HUF 60 billion will be available.

The principal activity of Maxon Motor Hungary Kft. is the production of electromotors and generators, in particular, the manufacture and installation of direct current electromotors and their parts. In addition to Hungary, the company has facilities in Switzerland, Germany, South Korea, the Netherlands and the United States.

With the current development, the facility in Hungary may become the largest one, Mr Grütter said.

Photo: MTI

Source: MTI/kormany.hu