Thyssenkrupp Component Technology

Type
Business expansion
Country
Hungary
Region
Alföld és Észak; Észak-Alföld; Jász-Nagykun-Szolnok
Location of affected unit(s)
Jászfényszaru
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
500 jobs
Number of planned job creations
Job creation
Announcement Date
2 March 2018
Employment effect (start)
Foreseen end date

Description

German automotive parts manufacturer ThyssenKrupp opened a new plant in Jászfényszaru (around seventy kilometres east of Budapest) with a greenfield investment exceeding EUR 100 million. 500 new jobs will be created at the site by 2019. The plant will produce electric power steering systems and valve train systems for German and international Original Equipment Manufacturers (OEMs).

The new factory is the company's first in Europe to locate two different product technologies at the same site. Combining the activities will allow efficiency and cost advantages. The factory will be equipped with industry 4.0 technology.

ThyssenKrupp already employs around 1,100 people in Hungary.

Sources

  • 2 March 2018: index.hu
  • 2 March 2018: vg.hu

Citation

Eurofound (2018), Thyssenkrupp Component Technology, Business expansion in Hungary, factsheet number 93555, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93555.