NEWS

Autoliv plans to expand in Hungary

Friday, Feb 27, 2015

Swedish auto safety components supplier Autoliv could double output at its vehicle seatbelt plant in Sopronkövesd in north western Hungary thanks to a planned €36m expansion plan there.

Stockholm-based Autoliv is adding a 15,000 square metres manufacturing extension to the existing 19,000 square metres operation by 2018 which could take production there to 40 million seatbelts a year. This would make Sopronkövesd the biggest such facility in Europe, according to Hungary’s Foreign Affairs and Trade Minister Péter Szijjártó.

Autoliv Hungary, which will create 700 new jobs through the investment, is committed to raising the level of raw materials accessed locally by the plant from 5 to 20% and machinery from 30 to 50%, the Minister announced.

Autoliv, which has been operating in Hungary since 1993, currently employs 1,760 at the seatbelt facility.

Hungary is already one of Europe’s “strongholds of the automotive industry” and a main driver of the national economy, itself one of the fastest growing economies in the European Union, said Szijjártó.

The tier one component producer has won almost €5m state subsidies from the Hungarian government towards its latest investment in the country.

The plant at Sopronkövesd is already a supplier of seatbelts to a number of global automotive manufacturers among them Audi, BMW, Daimler, Volvo and Volkswagen.

 

Source:http://www.europeanplasticsnews.com/