Automotive investment inaugurated in Nógrád county
Parat Ungarn Kft., the Hungarian subsidiary of a Germany-based automotive supplier, has built a new production hall with a HUF 1.6 billion investment, supported with an EU-funded subsidy.
Minister of National Economy Mihály Varga said at the inauguration ceremony that the government is striving to promote local investments, innovation and the creation of new jobs.
Parat Ungarn Kft., a supplier of plastic products for passenger cars and commercial vehicles, built a new production hall with a HUF 1.6 billion investment, aided with a 50 percent support from EU funds.
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| Minister of National Economy Mihály Varga said at the inauguration ceremony (photo: Dede Géza/NGM) |
Parat, formerly a manufacturer of soft tops for convertibles, has been operating in Szügy, Nógrád county, for 15 years. Two years ago, the German owners sold the old production plant and built a new 12,000-square-metre production hall on the neighbouring lot in 10 months.
The investment was supported by the Hungarian state with a HUF 800 million subsidy. Parat is a successful supplier in a sector with fierce competition. Today, the company's partners include the largest premium OEMs, such as BMW, Audi, Porsche and Volvo.
Frank Peters, the president of the Parat group said: Parat has been present in the region for years. He added that the group employs 646 people in Germany, Austria, Romania and Hungary. In Szügy, the company has 80 employees, and the company is planning to increase the Hungarian plant's headcount to 200.
