Prime Minister Viktor Orbán participated at the foundation stone laying ceremony of leading German brake system manufacturer Knorr-Bremse in Kecskemét (Central Hungary). Within the framework of the greenfield investment, a new plant and a development centre will be constructed on a total of 22 thousand square meters.

Reinforcing that Hungary regards Germany as a special economic partner, the Prime Minister stated in his welcome speech that Hungary should maintain strong ties with the German economy. He said that the fact that a company that performs as extraordinarily as Knorr-Bremse is investing in Hungary means that the necessary conditions for growth are available within the country and that our economic policy is on the right track.

The company, which employs around 20,000 people worldwide, announced its investment project in March 2012, thanks to which 111 new jobs will be created. At present, the company employs 1,800 people in Hungary, including more than 800 in Kecskemét.

The company won HUF 1,4 billion (~ EUR 4,7 million) in European Union funding within the framework of the New Széchenyi Plan for the investment, which is worth a total of HUF 5 billion (~ EUR 17 million). The new plant will make possible the application of higher quality technologies, whereas the development centre will strengthen the R&D potential of the whole region.
Regarding German-Hungarian economic relations, the Prime Minister pointed out that German investments in Hungary have mounted to EUR 5 billion in the past three years, 18 new German plants have opened and a further 22 companies have extended their capacities.

Hungary is building upon workfare and production as well as escaping indebtedness, Viktor Orbán said, adding that Hungary now seems to have been able to stand on its own feet.

Knorr-Bremse Fékrendszerek Ltd.’s CEO István Lepsényi noted that more than a third of their suppliers are Hungarian and highlighted that the Government had declared the region of Kecskemét a high priority automotive production centre. The presence of the Prime Minister at the ceremony demonstrates that the work of the company is appreciated and the company also has confidence in the country, he concluded.

(Prime Minister’s Office)