Alcoa inaugurates HUF 3bln investment in Székesfehérvár

Minister of Foreign Affairs and Trade Péter Szijjártó said the Hungarian government had supported the project with a HUF 1 billion subsidy. Alcoa's headcount has now increased to over 2,000 people as a result of the investment.

Since Alcoa signed a strategic partnership agreement with the Hungarian government, the company's share of Hungarian suppliers has increased from 75 to 78 percent.

U.S. Ambassador to Hungary Colleen Bell and Minister of Foreign Affairs and Trade Péter Szijjártó

Alcoa's long-term commitment is also signalled by the company's plans to increase wheel disc production capacity by 214,000 units at their Dura-Bright wheel manufacturing plant by 2020.

Colleen Bell, the U.S. Ambassador to Hungary emphasised at the ceremony that the new production hall confirms the strong ties between the United States and Hungary. She added: USA-based companies pay HUF 400 million in taxes every year. She noted that Alcoa alone provides a livelihood for 5,000 people through its suppliers.

With an annual turnover of HUF 200 billion registered in 2014, Alcoa-Köfém is one of the 50 largest companies in Hungary. Alcoa's latest investment has created 35 new jobs.