Hydro Extrusion Hungary Ltd. is continuing its automotive investments in Hungary and is increasing the extrusion capacity of its Székesfehérvár plant, SW of Budapest, with a EUR 35.7 million (HUF 14.6 billion) development, the company informed the state news agency MTI on Thursday.
The company said the development will ensure the company's future growth potential and create 40 new jobs. In addition to the construction of the aluminum recycling plant announced a year ago, this will be the seventh aluminum extrusion line at the Székesfehérvár site, and is expected to start operations in 2025. The new press will be located in an existing building and will use aluminum billets from the new recycling plant.
With this investment, Hydro's Székesfehérvár plant will reinforce its special role as a supplier to the premium brand market, especially in the electric car segment. The automotive components produced in Székesfehérvár include energy absorption systems such as bumpers and crumple zones, as well as a number of structural components for the car body and battery frames.
The Norwegian aluminum company's plant in Székesfehérvár that employs around 1,600 people, is the largest extrusion plant of its kind in Europe, and is also a leading player in Hydro Extrusions' automotive strategy.
According to publicly available company data, Hydro Extrusion Hungary Ltd. achieved a profit of HUF 1 billion on sales of HUF 112 billion in the 2020 financial year, while last year it closed with a profit after tax of HUF 10.5 billion on sales of HUF 147 billion.
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