ZF has constructed a new, 40,000 square metre production plant in Eger with an investment of €170 million ($197.2 million) and €20.4 million ($23.66 million) in Government funding.
The new facility is expected to create over 770 new jobs by the end of next year. The plant will have a capcity of manufacturing 150,000 eight-speed automatic gearboxes-a-year. The capacity will be increased to 500,000 within a few years.
ZF Hungary Ltd. currently employs 1265 people, and in addition to the number of employees, the ratio of Hungarian suppliers will also be increasing from its current level of 45%, further strengthening these enterprises and creating more new jobs in the region.
“ZF’s new investment clearly shows that the world’s largest, most competitive and most rapidly developing corporations regard Hungary as a place where it is worth investing,” Minister of Foreign Affairs and Trade Péter Szijjártó declared at ZF Hungary Ltd.’s factory inauguration in Eger.
ZF has been manufacturing gearboxes for commercial vehicles in Eger for over two decades. The new plant will produce one of the company’s most successful products, the 8-gear automatic gearbox designed for cars.