Hungarian Gov´t signs strategic agreement with Takata
The Hungarian government has signed a strategic cooperation agreement with Japanese automotive safety systems manufacturer Takata in Budapest, Hungarian news agency MTI reported yesterday.
State secretary Péter Szijjártó said the agreement is in line with Hungary’s intentions to become a production center in Europe, and a center for R&D, as well. He added that Takata is planning to spend 4.5 percent of its revenue on R&D this year.
Szijjártó said that companies engaged in the automotive industry provide work for 137,000 people in Hungary and account for 21 percent of Hungary's entire export volume.
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| Takata is a Japan-based manufacturer of airbag and other safety systems |
Takata launched construction of a EUR 68 million airbag and car safety systems plant in Miskolc in the spring. The new plant will employ 1,000 people.
The Miskolc plant has been the most significant investment of the Japanese company, founded 81 years ago and providing jobs for 44,000 people in 20 countries across the world.
The new plant will house a complete production process in Hungary. Power to the plant will be supplied using geothermal energy, Szijjártó added.
Szijjártó added that the partnership agreement signed with Takata is the 50th such agreement signed by the Hungarian Government and a large manufacturing firm.
Takata chairman Stefan Stocker called the agreement "a milestone" and said it paved the way for further cooperation between the company and the country in the field of R&D.
BBJ contributed to this article.
