The Government has concluded a strategic cooperation agreement with Japanese automotive supply company Denso Manufacturing Hungary Ltd, signed by State Secretary for External Economic Relations and Foreign Affairs Péter Szijjártó and Chairman of Denso Yamaguchi Shinsuke.
State Secretary Péter Szijjártó declared that Denso has been operating in Hungary for 15 years and has invested a total of EUR 500 million. He announced that the Japanese company may be about to invest in further development projects, which would mean the application of the most modern technology, a competitive product range and hundreds of new workplaces.
According to the State Secretary, Denso is the second largest automotive supply company and supplies all four automotive manufacturing companies in Hungary. The products it manufactures here require extreme precision, resulting in the fact that Denso is very strong within the field of research and development, something that coincides with the Hungarian Government’s economic policy objectives, because the Government aims to support research and development activities.
State Secretary Péter Szijjártó expressed that Denso is the third Japanese company with which the Hungarian Government has signed a strategic cooperation agreement after Suzuki and Bridgestone, calling 2012 a successful year in the history of Hungarian-Japanese economic relations, because Japanese companies announced 713 million euros of new investment in Hungary that has created 1435 new workplaces.
Chairman Yamaguchi Shinsuke stated that Denso continuously aims to strengthen its relations with local suppliers, with which the company intends to contribute to Hungary’s economic development.
According to Chairman Yamaguchi Shinsuke, with this strategic agreement the Hungarian Government acknowledges the activities of the company and provides new incentives to the further development of the company. I am convinced that Denso will contribute in the long-term to the development of the Hungarian automotive industry and the strengthening of Hungary’s international competitiveness, he said.
(Prime Minister’s Office)
