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Takata to build new factory in Hungary, employ 1,000

2013-11-15

Takata Corporation, a leading global supplier of automotive safety systems, announced that they would build a new production facility in eastern Hungary to manufacture air bag systems. When operating with full capacity the new plant will employ about 1,000 people

Takata's investment will be the largest one in the central Eastern European country since the completion of a vehicle plant by Germany's Daimler concluded in 2012, Hungarian Prime Minister Viktor Orbán told the same news conference.

Orbán added the new plant, to be built near the city of Miskolc, 200 km east of the capital Budapest, will contribute to accelerating growth in the country whose economy expanded at an annual 1.7 percent in the third quarter, far above expectations.

The plant, which will be built in Miskolc, a town in the northeast of the country, is planned to start production in October next year. It will employ 1,000 people and make airbags and airbag components for car manufacturers in Europe.

Takata chose Hungary for the plant because of its highly-skilled labour force and Miskolc in particular as the company wants to establish a long-term cooperation with the town's university, Stefan Stocker, Takata president and COO said at a press conference.