Termelés-Logistic-Centrum (TLC), which makes steel parts for the material handling equipment manufactured by German parent Sennebogen, laid the cornerstone of a 10 billion forint (EUR 3m) plant in Litér, in north-western Hungary, on Monday.
The government has provided a grant of 1.27 billion forints to support the project, which will create 80 jobs, Foreign Minister Péter Szijjártó said at the ceremony.
In his address, Szijjártó called
Hungary a “winner in a new epoch of the global economy”.
He argued that Hungary had broken investment records in each of the past five years, partly due to the country having “the most competitive labour force in Europe”.
Szijjártó said that
Hungary is one of 35 countries in the world with annual exports exceeding 100 billion euros, and noted full employment in the country as a “serious achievement”.
TLC owner Walter Sennebogen said production at the plant is expected to start at the end of next year.
TLC employs 550 workers at a base in Balatonfüred, on the northern shore of Lake Balaton. The company had net revenue of 33.8 billion forints last year.