Festo creates 170 new jobs in Hungary

With a headcount of more than 1,000, the company has invested HUF 30 billion in Hungary to date.

"Festo is a family business headquartered in Esslingen," owner Wilfried Stoll said at the opening ceremony. The company has 17,800 employees in 176 countries worldwide.

Last year, it registered a revenue of €2.45 billion. After the Germany-based operations, the Hungarian plant is the company's second largest production unit, Stoll added.

Festo global sales manager Ansgar Kriwet said the company has over 300,000 customers worldwide, whose interest is increasingly shifting to complete solutions.

In addition to pneumatic cylinders, Festo also supplies control electronics, which can be easily fitted into the customer's production line.

The company's aim is the full automation of production phases. Festo's product line currently boasts 30,000 items.