With new investments worth nearly HUF 70 billion, a logistics and distribution center will be set up by German giant Bosch and the manufacturing capacity of its site in Miskolc, NE Hungary will be extended, the Hungarian Investment Promotion Agency reports.
Bosch Group is known for being an exceptionally active investor in Hungary: it pumped HUF 100 billion into new investments in 2021 alone, whereas its R&D spending was close to HUF 93 billion. Employing over 17,000, it also qualifies as one of the largest industrial employers in the country.
Driven by the urge for continuous innovation, Robert Bosch Power Tool Ltd. now announced two large-scale projects of a total value of HUF 70 billion that are scheduled to be implemented in Miskolc by the end of 2024. Close to 15% of the total amount is to be covered by Hungarian taxpayers through a government devision.
Firstly, a logistics and distribution center will be set up for over HUF 54 billion to meet growing storage and distribution demand. The highly automated storage complex of nearly 100,000 square meters will become a flagship regional distribution hub for the electric power tool segment of the Group. Among others, the Regional Service Center that has been in operation since 2017 to deal with packaging will move there. The newly set up facility will also serve as storage for finished products and raw materials.
On the other hand, more than HUF 15.7 billion will be spent on extending manufacturing capacity of the power tool plant that by now has evolved into a competence center of European battery manufacturing in the Group’s electric power tool segment. The investment enables Bosch to produce and develop more innovative batteries and wireless hand and garden tools.
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