HUF 3.7 Bn Investment by Neutrik Hungary

Electronics parts manufacturer Neutrik Hungary inaugurated a HUF 3.7bn investment in Ózd (NE Hungary) on Thursday, MTI reports.

The investment by the local unit of Liechtenstein-based Neutrik, which makes audio and video connectors for the entertainment industry, was supported by a HUF 1.4 billion grant (close to 40% of the investment value) by Hungarian taxpayers through a government decision. According to a statement by the Hungarian Ministry of Foreign Affairs and Trade the investment will create 260 jobs.

Neutrik Hungary took over a factory recently vacated by Johnson Electric in Ózd, even hiring some of the former staff there.