Hungarian automotive industry: week 46
Continental creates 681 jobs, Bosch expands in Hungary, Knorr-Bremse awarded for innovative product, Rába enters Mexican bus market.
Manufacturers
Rába's strategic plan to decrease indebtedness is about to be completed in early-2016, the company's president and CEO announced last week. According to István Pintér, Rába's net loan is expected to decrease below HUF 5 billion.
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| Rába signs supply contract with Mexico-based DINA |
It was also announced last week that Rába had signed a partnership agreement with Mexico-based Diesel Nacional (DINA) to supply buses and trolleys produced by the Mexican manufacturer with complete axle systems.
Suppliers
Continental is set to create 681 new jobs in Hungary, the majority in Nyíregyháza, with a new HUF 5.1 billion investment.
It was announced last week that a joint venture formed by MOL and Japan-based JSR Corporation will create over 100 new jobs in Hungary at a new synthetic rubber plant to be built by 2017.
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| Continental set to create 681 jobs in Hungary |
Robert Bosch Power Tool Kft. has completed a HUF 2.2 billion investment to develop new electric power tools at the company's Miskolc location.
Service providers
Kaposvár is the first Hungarian town to have replaced its complete bus fleet that now conforms to the latest European emission norms.
The Scientific Society of Mechanical Engineering (GTE) and the Association of Hungarian Bus and Coach Manufacturers (MABUSZ) will hold the 46th Meeting of Bus and Coach Experts this year.
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| Kaposvár replaces entire bus fleet to conform to EU norms |
Quoting unfavourable market conditions, the management of Waberer's International Nyrt. has decided to delay the company's IPO on the national stock market.
Economy
In September 2015, exports and imports in EUR terms grew by 5.6% and 8.2%, respectively. In the same period, the surplus on the trade balance amounted to €814 million, €126 million down from the record-breaking €940 million registered a year ago.
Analysts are expecting a 6.5–7% increase in the volume of industrial production for 2015.
In September, the volume of industrial production rose by 7.8% compared to the same period last year, according to a report released by the Hungarian Statistical Office (KSH). In August, production volumes saw an impressive increase at 6.2%.
