Germany-based technology group thyssenkrupp is planning to develop a new automotive components plant in Jászfényszaru located 70 kilometers east of Budapest. The company will invest around €100m in a new production site for engine components and steering systems. thyssenkrupp will start construction of the plant in spring 2016 with completion scheduled for 2018. The new plant is expected to employ around 500 new jobs in the coming years. The expansion of production capacity in Hungary is necessary because thyssenkrupp’s components division major orders the company recently acquired from international OEMs.
