Hungarian gov´t and Alpine sign strategic agreement
On Thursday, the Hungarian government and Japanese electronic systems manufacturer Alpine signed a strategic partnership agreement in Budapest.
The agreement was signed by Levente Magyar, Secretary of State of the Ministry of Foreign Affairs and Trade for Economic Diplomacy, and Toshinori Kobayashi, President of Alpine Europe.
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| Levente Magyar, Secretary of State of the Ministry of Foreign Affairs and Trade for Economic Diplomacy (right), and Toshinori Kobayashi, President of Alpine Europe (left), signing the agreement at the Hungarian Investment Promotion Agency on April 16. - photo: kormany.hu |
Levente Magyar said that this had been the 58th strategic agreement between the Hungarian government and a foreign investor, and the seventh agreement concluded with a Japanese company.
Alpine Electronics, founded in 1967, is engaged in manufacturing audio and hi-fi systems and navigation systems and displays for automotive application. The company is a supplier of premium OEMs. Alpine is present is 17 nations and has a manufacturing site in five countries.
The Hungarian subsidiary was established in 1998 in Biatorbágy, near Budapest.
The company announced in January to invest USD 39 million in its Biatorbágy plant, doubling production capacity and creating 500 jobs by 2018.
