Greenfield investment of 100 million euros starts in third quarter 2018, production of sensors and transmission control units planned from third quarter 2020.
22 Feb 2018 | 3633 Views | By Autocar Pro News Desk
Technology company Continental has announced the construction of a new manufacturing plant in Hungary to expand its automotive electronics production footprint.
Continental currently has six plants and a tire sales and logistic center in Hungary. By choosing Debrecen as the seventh Hungarian location, Continental is increasing the production of ...
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Technology company Continental has announced the construction of a new manufacturing plant in Hungary to expand its automotive electronics production footprint.
Continental currently has six plants and a tire sales and logistic center in Hungary. By choosing Debrecen as the seventh Hungarian location, Continental is increasing the production of electronic components for European markets. The groundbreaking ceremony is scheduled for the third quarter of 2018. Continental plans to invest a total of 100 million euros and will create 450 new jobs.
José Avila, Member of the Executive Board of Continental and Head of the Powertrain division, said: “With this strategic decision of a new manufacturing plant in Debrecen, Continental is continuing to expand its European presence in order to better satisfy the customers´ growing demand for automotive electronics.”
“To expand our European presence with our new plant in Debrecen is an important pillar in order to diversify our manufacturing plants for state-of-the-art automotive electronics internationally. Together with the Hungarian government we are able to significantly expand our capacity and further drive our technology development", added Dr. Hans-Jürgen Braun, head of the 30 Continental central electronics plants.
“Having earned the trust of our customers on account of the best-in-class quality of our products and services, we are also able to expand our operations in the field of the production of sensors and actuators and transmission control units. The investment in Debrecen proves that Continental considers Hungary to be a strategic partner and a reliable country to cooperate for future success. Hungary remains a strategic investment area for Continental,” said Dániel Rábai, Head of Focus Country, Continental Hungary.
“As the second largest city in Hungary and also a regional center with an outstanding infrastructure and highly qualified workforce, Debrecen is the ideal location for our next expansion," said Dr. Róbert Keszte, Managing Director at Continental Automotive Ltd. “The Hungarian government, and the local municipality were providing an excellent support to prepare the investment, so we can progress quickly and complete the construction by the middle of 2019."
“The establishment of Continental’s new manufacturing plant is yet another proof that Hungary is one of the most attractive countries for automotive investments in Europe. Relying on Hungarian expertise, productivity and creativity, the strategic geographical location and favourable manufacturing costs, the automotive companies in Hungary are continuously expanding their footprints and developing their products, thus making long-term commitments in the country. Continental’s new facility will further improve the competitiveness of Hungary and strengthen its position as the regional hub within the automotive industry,” said Róbert Ésik, president of the Hungarian Investment Promotion Agency (HIPA).
Products of Continental’s Transmission and Sensors & Actuators business units are the first to be manufactured on a production site of 7,000 square metres and assigned to EU markets.