Japanese TDK to Invest EUR 67m in Szombathely
Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, announced on Friday that Japanese-owned company TDK will be investing 26 billion forints (EUR 67 million) in Szombathely, western Hungary, creating 250 new jobs in the process. The investment will see the expansion of TDK’s base with an additional 12,000 square meters of production area.
One of the key highlights of this investment is that TDK will be introducing electronics production for the automotive industry that is currently not available anywhere else in Europe to Szombathely. This move is expected to significantly boost Hungary’s competitive edge in the region.
To support this investment, the Hungarian government has provided 6.7 billion forints (EUR 17.2 million) in financial assistance. The partnership between TDK and Hungary represents a significant step towards enhancing the country’s manufacturing capabilities and attracting more foreign investments in the future.
In a recent press release, TDK also revealed that they will be relocating the production of sensors to Szombathely, as their manufacturing base in Indonesia has reached its capacity limit. This strategic decision not only reinforces TDK’s commitment to innovation and growth but also underscores Hungary’s position as a key player in the global manufacturing sector.
Overall, the collaboration between TDK and Hungary marks a positive development for both parties and sets the stage for continued economic growth and job creation in the region.
