The Hungarian unit of US-based automotive industry supplier BorgWarner announced a HUF 15 billion expansion at its turbo system production plant in Oroszlány, creating 600 new jobs The government provided HUF 1.7 billion subsidy for investment.
The company, which set up its Hungarian unit 15 years ago and makes exhaust pipe parts, plans further investments in the next two years, which would create an additional 600 new jobs, said managing director Attila Bogár.
The United States is Hungary's largest export market outside the EU and economic relations between the two countries have never been so intense as today, said Minister of Foreign Affairs and Trade Péter Szijjártó. The US was the largest investor to Hungary in 2015, he added.
BorgWarner is a market leading automotive parts maker in its own category and the company's investments have contributed that the production of the car industry reached records and that Hungary became one of the strongholds of European car production with more than 150,000 employees working in the sector, Mr. Szijjártó noted.
