The Hungarian government has concluded a strategic partnership agreement with the Swiss Rehau Group, under which it will be providing HUF 7.1 billion in non-returnable funding towards the establishment of the company’s second automotive production plant in the country.
The group’s Hungarian subsidiary Rehau-Automotive Kft. laid the cornerstone of a HUF 40 bln bumper plant in Újhártyán last Friday, which will create 652 jobs. Rehau-Automotiveʼs other plant is in Győr (north-west Hungary).
“The government only concludes strategic partnership agreements with corporations whose activities have a perceivable effect on the Hungarian national economy. To date, the government has signed such strategic agreements with 78 companies,” said Minister of Foreign Affairs and Trade Péter Szijjártó.
He also said that the companies with which the government has concluded strategic agreements employ a total of some 175,000 people throughout Hungary, and have increased their ratio of Hungarian suppliers by 4%, resulting in tens of millions of euros in increased revenues for Hungarian SMEs.
Markus Grundmann, CEO of Rehau-Automotive, said that there are 400 people working at Rehau’s automotive division in Hungary today. With respect to the new plant in Újhártyán, he explained that the company will construct a 60,000 square-meter production hall, which will be the most modern factory within the company’s automotive industry network.