Bridgestone to Invest $32 Million in Hungarian Plant

Bridgestone to Invest $32 Million in Hungarian Plant

Bridgestone Corp. announced that it will invest 9.2 billion forint ($32 million) in its plant in Tatabánya, Hungary.

Bridgestone Corp. announced that it will invest 9.2 billion forint ($32 million) in its plant in Tatabánya, Hungary.

The investment will provide a new 10,000-square-meter warehouse for the site, which will help increase the plant capacity to produce 7.2 million tires per year by 2020.  The Hungarian Government is also providing 826 million forints (almost $3 million) in funding.

, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday in Budapest.
The Minister highlighted the fact that Bridgestone works using the most modern digital technology, and that the investment means further supplier capacities for the automotive industry, which is the backbone of the Hungarian economy, and will be creating 100 new jobs.

President and Managing Director of Bridgestone Tatabánya Limited Melinda Topolcsik told the press that a new, 10 thousand square metre warehouse will be constructed within the framework of the project, in addition to which the company will be realising a further increase in capacity, enabling the plant to produce 7.2 million tyres-a-year by 2020.

Péter Szijjártó, Hungary’s minister of foreign affirs and trade, said that the company will be installing totally new, digital production technology, which will be facilitating the dimensional shift of the Hungarian economy. He highlighted the fact that the Hungarian economy is export-orientated, and its performance is determined to a major extent by the level of exports. He said 99% of the products manufactured Tatabánya plant are exported.

Bridgestone, which started production at its Hungarian plant in 2008, currently provides work for 1,200 Hungarian employees and will add 100 more employees with this investment.

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