Bosch to relocate production of starters to Miskolc
Bosch will relocate the production of starter units from its Hildesheim plant to Miskolc, Hungary, by 2018, laying off 400 people as a result at the Germany-based production base, announced the company on Tuesday.
According to experts, the aim of one of the world's largest automotive manufacturers with this step is to increase its competitiveness in the stagnating European market via exploiting lower Hungarian wages.
The Hungarian Government signed a partnership agreement with Hungarian Bosch Group last year. The company is present in company with ten subsidiaries employing 8,500 people, 1,000 of whom are employed in the field of R&D.
The Hungarian Group's turnover in 2012 exceeded 594 billion HUF, and its investments in the past ten years will have amounted to 250 billion HUF by the end of this year.
