Poland-based Alumetal to set up EUR 28.5 million plant in Komárom
Polish automotive supplier Alumetal has launched a HUF 9 billion project to build a new plant in Komárom, Hungary. The investment will create 150 jobs by the end of 2017, the Hungarian Investment Promotion Agency (HIPA) announced on Friday.
Alumetal Chairman-CEO Szymon Adamczyk told a press conference this Greenfield investment is the first for Alumetal outside Poland.
The plant will supply raw materials for engines, primarily for Nemak, a Mexican-owned cylinder head manufacturer operating in the nearby city of Győr, and Volkswagen.
The EUR 28.5 million project will be carried out in a single phase. Adamczyk said that the project kicked off on 5 October 2014 and will be completed by 31 December 2017. Production is scheduled to be launched in the fourth quarter of 2016 with an annual output capacity of 50,000 tons, reported Portfolio.hu.
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The Polish group sold 148,000 tonnes of products over the past 12 months, posting revenues of EUR 277 million and after-tax profit of EUR 13 m. The Hungarian arm of Alumetal was established on 11 July this year.
HIPA said Alumetal picking Komárom after evaluating 12 potential locations across the Central Transdanubia region was "great news" after Nokia’s recent announcement to shut down its factory in the town.
Trade volume between Hungary and Poland has been steadily rising over the last ten years (tripled between 2003 and 2013), and Hungary was the 6th largest trade partner of Poland in 2013, HIPA said.
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| Mayor of Komárom Attila Molnár (left) and Alumetal CEO Szymon Adamczyk (right) |
Komárom mayor Attila Molnár noted that despite the economic crisis, several companies moved in to the city, including pharmaceutical company Mylan, commercial printing company Motivating Graphics, and automotive industry supplier Racemark International. Foxconn, a manufacturer of IT components, has announced in recent weeks to create several hundreds of new jobs and start the operation of its factory in Komárom, he added.
137,164 people were employed in the automotive industry between April and June 2014, an increase of 23.3% compared to the same period in 2013. Export of products related to the automotive industry accounted for 20.9% of all exported Hungarian goods in January-July this year, reported Porfolio.hu.
