06 APRIL 2015AlCircle.com
French company Le Bélier to invest in aluminium manufacturing unit in Hungary
Edited by : AL CIRCLE
1 min read
Le Bélier is a French group specializing in manufacturing molded aluminium safety components for cars and will be making an investment of 8 billion forints (EUR 26.7) in Ajka, Western Hungary, as recently announced by the foreign minister.
The first phase of the project will be supported by the Hungarian government, contributing 507 million forints from the European Union Funding.
Péter Szijjártó, the minister of Foreign Affairs and Trade, said there are even talks about the government funding the second phase of the project as well.
After development, this project will create 100 jobs, boosting the annual export revenue of the Le Bélier Hungarian unit to 40 billion forints. In 2013, the unit’s export revenue came to 29 billion forints according to public records.
There are 1,500 people employed in the three Hungarian plants and 95% of local production is exported to companies like Volkswagen and BMW. The group has even signed a strategic cooperation agreement with the Hungarian government in January this year.
The first phase of the project will be supported by the Hungarian government, contributing 507 million forints from the European Union Funding.
Péter Szijjártó, the minister of Foreign Affairs and Trade, said there are even talks about the government funding the second phase of the project as well.
After development, this project will create 100 jobs, boosting the annual export revenue of the Le Bélier Hungarian unit to 40 billion forints. In 2013, the unit’s export revenue came to 29 billion forints according to public records.
There are 1,500 people employed in the three Hungarian plants and 95% of local production is exported to companies like Volkswagen and BMW. The group has even signed a strategic cooperation agreement with the Hungarian government in January this year.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Malaysian companies record RM75m sales at Indonesia’s auto exhibition
Next articleChina’s aluminum semis exports fell 2.6% MoM in February
Grow with
AL Circle
