Thyssenkrupp invests 100 million euros in Hungary car parts plant
Thyssenkrupp is to build a new automotive components plant in Hungary. The company will invest around 100 million euros in a new production site for engine components and steering systems. Construction of the plant in Jászfényszaru, 70 kilometres east of Budapest, will start in spring 2016, with production of electronic power-assisted steering systems and cylinder head covers with integrated camshafts planned to commence in 2018. Thyssenkrupp reports that it will create around 500 new jobs at the site in the coming years. The expansion has reportedly been prompted by “major orders from international OEMs”.