The Government has concluded a Strategic Partnership Agreement with the Switzerland-based Phoenix Mecano Ltd, a producer of machinery and industrial electronic systems and components. At the signing ceremony held at the company’s Hungarian headquarters in Kecskemét, Minister for National Economy Mihály Varga said that processes currently arising in Hungary signal that the economy has been gaining speed.
Mihály Varga emphasised that the company’s history, presence in Hungary and future plans all fit in well with Hungarian economic policy goals.
The Hungarian Government, he added, has been partner in the field of “stimulating economic growth, boosting employment and adopting leading technologies”. He called it great that another large company has decided to bring a service centre supplying all European customers to Hungary.
The new logistics centre of the company, completed through funding of the New Széchenyi Plan, was opened ceremonially. From the almost 5000sqm logistics centre not only products for European clients will be transported, but those completed in the Romanian or Far-Eastern factories of the conglomerate as well.
The Minister for National Economy emphasised that the new logistics centre has been constructed wholly by Hungarian enterprises and the number of the factory’s employees will increase further from the current more than one thousand people. The Minister called it a valuable asset and applauded as Hungary’s comparative advantage the global market relation network, technological standard and know-how the companies with which the Government has concluded strategic partnership agreements guarantee through their presence.
Mihály Varga also mentioned that despite numerous domestic and foreign criticisms concerning the shaping of Hungary1s economic environment recent results has proven the Government right. He pointed out that the Hungarian economy expanded by 1.7 percent, well above expectations of 0.8 percent. He added that “it has also become evident that growth has been based on an economic structure which is sounder than before and which facilitates steady expansion.”
He said that the budget for 2014 was drafted with the knowledge that Hungary exited the excessive deficit procedure in summer after nine years. Mihály Varga called it an important fact that financial markets are also acknowledging the achievements of the Hungarian economy and as one proof of that he mentioned that “the financing of general government debt has fallen significantly”.
The Minister for National Economy remarked that the OECD and the European Commission have both revised their former prognoses on Hungary.
In the opinion of the Minister, the history of the Phoenix Mecano Ltd has been exemplary, as it has evolved from an enterprise with 44 employees in 1993 into a large production facility with currently over one thousand employees.
Kecskemét Mayor Gábor Zombor stressed that the Kecskemét subsidiary prioritizes the assistance of Hungarian employees and places special emphasis on contributing to the town’s development. The Mayor highlighted the economic significance of Kecskemét as this has been the fifth Kecskemét-based enterprise to conclude a strategic partnership agreement with the Government.
Phoenix Mecano Kecskemét Ltd CEO Zoltán Nagy said that the history of the company, established in 1993 in Hungary, has been a real success story. Compared to revenues of EUR 1.5 million at the beginning, the current figure exceeds EUR 134 million, the CEO added, who has been the company’s head for 16 years.
Phoenix Mecano AG CEO and Board Member Benedikt Goldkamp, the son of the Swiss company’s founder, emphasised in his welcome note that products from the Kecskemét facility are of high technical quality. He underlined the importance of the fully-automated logistics center which he called a milestone for the company’s future.
(Ministry for National Economy)
