Hungarian gov´t signs partnership agreement with Nemak
Hungary´s government has signed a strategic partnership agreement (SPA) with Nemak Győr Kft. The Győr-based company is the Mexican parent´s largest cylinder-head manufacturer in Europe.
The partnership agreement was signed at the Ministry of Foreign Affairs and Trade in Budapest.
Aluminium cylinder head and engine block manufacturer Nemak is the government's first Latin American strategic partner.
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| Levente Magyar, State Secretary to the Ministry of Foreign Affairs and Trade and Nemak Győr CEO David Toth |
Levente Magyar, State Secretary to the Ministry of Foreign Affairs and Trade said in his welcome speech that the Győr-based plant supplies the world's largest OEMs and contributes to expanding the capacity of Hungary's vehicle production.
Nemak manufactures 3 million cylinder heads every year. The company has a turnover of HUF 55 billion (EUR 174 million) and employs approximately 1,000 people, said Nemak Győr CEO David Toth.
Levente Magyar emphasised: the automotive industry, accounting for almost one third of the volume of Hungary's entire processing industry, is a driver in the Hungarian economy. Therefore, the government is striving to support every company in this sector.
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Nemak is planning significant investments after spending millions of euros on technology development in previous years and will also increase its headcount, the State Secretary said.
He added: this has been the 55th strategic partnership agreement signed by the Hungarian government. The SPA concluded with Nemak supports the government's efforts to strengthen its economocial and political links with South America, Levente Magyar said.
