State Secretary of the Hungarian Ministry of Foreign Affairs and Trade Péter Szijjártó said that the Hungarian government, seeing the positive trends in the motoring industry worldwide, wishes to attract new investors to this sector and encourage the expansion of companies already operating in the motoring industry in Hungary.

Mr Szijjártó reminded that the government that took office in 2010 decided to reindustrialize the country to ensure that Hungary again becomes the center of industrial production in Europe.

The motoring industry is a core element of this strategy, and Hungary is nowadays one of the key hubs of the automotive industry in Europe. The 712 companies that operate in the motoring industry employ over 112,000 people with a total yearly production of EUR 18.3 billion which accounts for one fifth of the total output of Hungary’s manufacturing industry. 93% of products are sold for export, he added.

Managing Director of Busch-Hungária Kft, a member of family-owned German BPW Group, István Fekete said that the goals of Busch-Hungária Kft, operator of nodular cast iron foundries, and the Hungarian Government are the same: both are committed to expand manufacturing capacities and create new jobs.

Mr Fekete reminded that most products of Busch-Hungária Kft are sold for export and the company’ goal is to manufacture products of high added value that require expertise. In the first phase of the project, a new pair of foundries is expected to start operating in September, increasing yearly production from 25,000 tons to 35,000 tons. The second phase of the project is going to increase production by an additional 10,000 tons per year.

Deputy Mayor of Győr Simon Róbert Balázs said at the event that the city managed to fulfill three of its major goals that were key to its success: make the city into a motoring industry hub, have a local university and make the region into the driving force of the Hungarian economy.

Source: Ministry of Foreign Affairs and Trade