Veritas Ltd invests HUF 1 bn into various developments in Hungary. The company buys new technological equipment, machines and plans to increase its productivity by 10% this year. The development is aimed at preparing for the increasing demands of the automotive industry. Veritas Ltd is a 100% subsidiary of the German company Veritas AG. Its primary sphere of activities is to providing fuel and hydraulic systems for the Volkswagen group and to BMW. The German parent company’s annual income is around €600 mn, out of which 40% is provided by the Hungarian factory. The Hungarian plant is the group’s largest member, principally focusing on vulcanization and on assembling supply-line systems and modules.
