GE to set up new production unit in Hungary
General Electric will expand the activities of its Fót-based (Hungary) Oil & Gas business by a 6,000-square-metre new production hall and an office building to go with it, announced the company at the foundation-stone laying ceremony of the new facility.
GE will build a state-of-the-art production facility for unit control panels (UCP) for combined gas and steam turbine (COGAS) power plants. The investment will create more than 100 jobs, including 40 engineering positions, GE said in a statement.
GE is Hungary’s largest U.S.-based investor with 12,500 employees, 12 plants, three technology centres and three regional business hubs.
In his welcome speech, Péter Szijjártó, State Secretary for foreign economic affairs, pointed out: as GE is a market-leading manufacturer in the field of unit control panels, this investment means that from now on, Hungarian engineers and workers will have a crucial role in the bettering of the world’s energy safety.
Szijjártó emphasised: the foundation-stone laying is another step in the success story of Hungarian-American economic relations. The new production unit will increase Hungary’s competitiveness and contributes to Hungary’s way to becoming a European production centre.
As a result of this investment, 114 additional jobs will be created. 75 percent of Hungarian GE’s suppliers are Hungarian companies, added the State Secretary.
GE is committed to helping local communities, which is why the partnership agreement signed earlier with the Hungarian Government is extremely important for the company, said Dave Cox, vice-president of GE’s Oil & Gas business.
The new facility will widen the company’s product range and help boost Hungary’s competitiveness, added Cox.
portfolio.hu
