Germany's ThyssenKrupp concern inaugurated a new plant in Győr, Northwest Hungary, which was completed through an investment of HUF 1.2 billion (EUR 4 million).

The plant supplies axle systems for Audi, which has a factory nearby. Freshly assembled components manufactured at the plant, which operates in a just-in-line system, arrive on Audi's production line only 176 minutes after being ordered, CEO of ThyssenKrupp Automotive Systems Thomas Möller said at the inauguration ceremony, adding that the Győr plant is expected to generate an annual revenue of EUR 120 million in the coming period.

László Thuróczy, Deputy State Secretary for Competitiveness of the Ministry for National Economy, said that this plant embodies the objectives of the Hungarian Government, which is to facilitate the presence in Hungary of industries that require high added value, increase employment and boost economic growth.

He added that the European Union had also acknowledged the importance of the production sector, emphasising that vehicle manufacturing, and especially German companies, play a key role in Hungary industry.

(Ministry for National Economy, Prime Minister’s Office)