Budapest, June 21 (MTI) – Economy Minister Mihály Varga inaugurated French auto parts supplier Sicta’s 4 million euro office building and storage base in Felsőzsolca, in north-eastern Hungary, on Tuesday.
Varga said French businesses had contributed greatly to Hungary’s economic progress over the last few years.
France is among Hungary’s top five trading partners, he said, noting that bilateral trade turnover grew by more than 10 percent last year to 8.3 billion euros.
The company plans to invest a further 12 million euros in Felsozsolca over the coming years, Varga said.
Sicta deals with gravity die casting and machining of turbo charger compressor housings made of aluminium and is the second largest European supplier of such parts.
Its parent company, Sicta SAS belongs to the French-owned Citele Group. Its customers include Mercedes-Benz, BMW, Porsche, Audi, Fiat and Peugeot among other manufacturers.