Germany's Knorr-Bremse Group, the world’s leading manufacturer for braking systems for rail and commercial vehicles, has laid the foundation stone of a new manufacturing and development base in Kecskemét, east-central Hungary.
The groundbreaking ceremony of the approx. HUF 5 billion (EUR 16.85 m) investment project, which will receive HUF 1.4 bn (about EUR 4,7 million) state funding, was attended by Prime Minister Viktor Orbán and a member of Knorr-Bremse AG’s Board of Directors. Klaus Deller.
"Hungary needs to be strongly and deeply connected to the Germany economy," Orbán said at the groundbreaking ceremony of the new facility in Kecskemét (some 90 kilometers southeast of Budapest). He claimed that “the conditions for future growth are given in Hungary today."
In scope of the green-field investment, Knorr-Bremse is building a new production plant and test laboratory on 22,000-square metres, creating 111 jobs. The facility is planned to be completed by the end of 2013. The new plant will make possible the application of higher quality technologies, whereas the development center promises to strengthen the R&D potential of the whole region.
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