Prec-Cast Ltd., based in Sátoraljaújhely, has decided to build a new, 12.000 square metre plant as the first phase of a planned investment project. State Secretary for Foreign Affairs and External Economic Relations Péter Szijjártó said at the foundation stone laying ceremony that the investment will create 300 new workplaces at one of the most important firms of the Hungarian casting industry. The company currently employs 900 people and is an important supplier to the Western European automotive industry.
According to the State Secretary, the firm is rapidly developing: they invested in the company during the years of the crisis, which lead to a big competitive edge.
They have also built an excellent reputation among the Hungarian suppliers. He reminded the audience that the Government and the directors of the company had previously agreed on a long-term cooperation, within the framework of which the firm opened a new logistics centre last year, enabling an increase the manufacturing capacity.
Péter Szijjártó stated that Prec-Cast is happy with their operation in Sátoraljaújhely and have been able to continuously increase its export volume – 90% of their exports go to the largest and most well-known car manufacturers in Western Europe.
The company is able to produce its products at a competitive price in Hungary and can sell them at a good price on the international market. Also would also seem that both the automotive and the electronic industry have found their way out of the crisis – orders for both sectors are increasing, which is a good sign for investors – the State Secretary said.
(Prime Minister’s Office)
