Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
»
2-min read

Continental Plans New Hungarian Plant in Debrecen

Continental plans to invest a total of €100 million and will create 450 new jobs.

News18.com

Updated:February 23, 2018, 3:48 PM IST
facebookTwitterskypewhatsapp
Continental Plans New Hungarian Plant in Debrecen
Image used for representational purpose. (Image: REUTERS/Fabian Bimmer/Files)
Loading...

The technology company Continental announced the construction of a new manufacturing plant in Hungary to expand its automotive electronics production footprint. Continental currently has six plants and a tire sales and logistic centre in Hungary. By choosing Debrecen as the seventh Hungarian location, Continental is increasing the production of electronic components for European markets. The ceremony is scheduled for the third quarter of 2018. Continental plans to invest a total of €100 million and will create 450 new jobs.

José Avila, Member of the Executive Board of Continental and Head of the Powertrain division said: “With this strategic decision of a new manufacturing plant in Debrecen, Continental is continuing to expand its European presence in order to better satisfy the customers´ growing demand for automotive electronics.”

“To expand our European presence with our new plant in Debrecen is an important pillar in order to diversify our manufacturing plants for state-of-the-art automotive electronics internationally. Together with the Hungarian government, we are able to significantly expand our capacity and further drive our technology development", added Dr Hans-Jürgen Braun, head of the 30 Continental central electronics plants.

“Having earned the trust of our customers on account of the best-in-class quality of our products and services, we are also able to expand our operations in the field of the production of sensors & actuators and transmission control units. The investment in Debrecen proves that Continental considers Hungary to be a strategic partner and a reliable country to cooperate for future success. Hungary remains a strategic investment area for Continental,” said Dániel Rábai, Head of Focus Country, Continental Hungary.

“As the second largest city in Hungary and also a regional centre with an outstanding infrastructure and highly qualified workforce, Debrecen is the ideal location for our next expansion. The decision reflects the trust in and strong positive feedback about the performance of the existing Continental organization in Hungary”, said Dr. Róbert Keszte, Managing Director at Continental Automotive Ltd. “The Hungarian government and the local municipality were providing an excellent support to prepare the investment, so we can progress quickly and complete the construction by the middle of 2019."

“The establishment of Continental’s new manufacturing plant is yet another proof that Hungary is one of the most attractive countries for automotive investments in Europe. Relying on Hungarian expertise, productivity and creativity, the strategic geographical location and favourable manufacturing costs, the automotive companies in Hungary are continuously expanding their footprints and developing their products, thus making long-term commitments in the country. Continental’s new facility will further improve the competitiveness of Hungary and strengthen its position as the regional hub within the automotive industry”, said Róbert Ésik, president of the Hungarian Investment Promotion Agency (HIPA).

Products of Continental’s Transmission and Sensors & Actuators business units are the first to be manufactured on a production site of 7,000 square meters and assigned to EU markets.

Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2017, Continental generated preliminary sales of around €44 billion and currently employs more than 2,33,000 people in 56 countries.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Manav Sinha
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results