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.