The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.40 - Manufacture Of Weapons And Ammunition
200 jobs Number of planned job creations
Announcement Date
27 July 2023
Employment effect (start)
1 December 2023
Foreseen end date
31 December 2025
Description
A new arms factory, operated by the German joint venture Rheinmetall Hungary Munitions Ltd, is under construction in Várpalota, Central Transdanubia. 200 new jobs will be created, with recruitment beginning in December of 2023. The plant is to start producing medium and large-calibre ammunition in the end of 2024, with a planned extension of the product range later. The business expansion is set to be finished in 2025. The stated aim is to create a domestic military industry capacity that is sufficient to ensure the safety of the country.
The joint venture is co-owned by German automotive and arms manufacturer Rheinmetall and Hungarian state-owned defence industry conglomerate N7 Holding. The Várpalota production site is part of the string of arms factories established in recent years, including another Rheinmetall plant Rheinmetall-2023-HU.
30 November 2022: VEOL Veszprém Vármegyei Hírportál (www.veol.hu)
Citation
Eurofound (2023), Rheinmetall Hungary, Business expansion in Hungary, factsheet number 109338, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109338.
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