Festo AM

Type
Business expansion
Country
Hungary
Region
Közép-Magyarország; Budapest; Budapest
Location of affected unit(s)
Budapest (Óbuda)
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
22.1 - Manufacture of rubber products
22.11 - Manufacture, retreading and rebuilding of rubber tyres and manufacture of tubes
170 jobs
Number of planned job creations
Job creation
Announcement Date
2 October 2015
Employment effect (start)
Foreseen end date

Description

Festo AM Pneumatika Gyártó has established a new factory building at its Óbuda-based business premises and 170 new jobs will be created. Festo AM Pneumatika Gyártó was founded in 1991 and its headquarters are located in Budapest. 100% of the company's shares are owned by FESTO AG. The group has subsidiaries in 61 countries and sells its products in 176 countries in the electronics and automotive fields, as well as food and packaging industries, and it also offers complete pneumatic and electric automation technologies and engineering solutions.

Sources

  • 1 October 2015: Munkajog.hu
  • 1 October 2015: Stop.hu

Citation

Eurofound (2015), Festo AM, Business expansion in Hungary, factsheet number 84962, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84962.