THYSSENKRUPP EXPECTS TO COMPLET CONSTRUCTION OF PLANT IN HUNGARY BY 2018

Germany-based technology group thyssenkrupp is expected to complete construction of its plant in Hungary’s Jászfényszaru by 2018, city mayor Márta Czeglédi said yesterday at the launch of the project, Hungarian news agency MTI reported.

The company announced last week that it will build a new automotive components plant in Jászfényszaru, with an investment of €100 million. 

“This investment follows our strategy towards standardization and cost optimization in the automotive components business. For the first time in Europe we are localizing production of two different technologies at one site. That will be an immense help in offering competitive cost structures,” said Dr. Karsten Kroos, CEO of thyssenkrupp’s Components Technology business.