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2016-04-29 00:00:00
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A HUF 12.8 billion investment from Otto Fuchs, German automotive supplier, will see production capacity double in Tatabanya. Peter Szijjarto, Minister of Foreign Affairs and Trade, has said that Otto Fuchs’ current aluminium wheel hub output is at around one million per year and this would increase to two million after the planned expansion.
The Hungarian government has already promised a HUF 1.2 billion loan to help with the costs as 180 new jobs get created to add onto the already impressive 380 employees currently in Tatabanya. Annual revenue is expected to rapidly increase to around €70 million from €44 million for the company enjoying a rising reputation after supplying wheel hubs to BMW, Mercedes and Audi. It has been an exciting year for the company who posted a net income increase from €472,000 to over €5 million.
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