Neutrik Group, a world leader in the development, manufacturing, and distribution of electric, fiber optic and electronic connectivity solutions for the entertainment and live events industries, invests nearly EUR 10 million to set up a new assembly plant in Ózd, NE Hungary. Close to 40% of the investment costs are borne by Hungarian taxpayers as a result of a decision by the Hungarian government.
Initially, 200 jobs should be created, whereas in the middle term that number is expected to go up to 300, with the aim to regionalize the supply chain of the company within the European Union.
The Neutrik Group, a family-owned business founded in Liechtenstein in 1975, develops, manufactures and globally distributes innovative electrical, optical and electronic interconnect products and systems. Thanks to three global brands, NEUTRIK, REAN and CONTRIK, the Neutrik Group is recognized as a technology leader in the world of professional entertainment and industrial applications, where it continues to set standards with innovative audio, video, power and data connectors, network devices and power distribution systems.
Neutrik’s global footprint, with more than 1,000 employees, consists of manufacturing facilities in Europe, North America and Asia along with strategically located sales subsidiaries in the USA, Germany, China, Great Britain, Japan and France.
The Group’s newly established local subsidiary, Neutrik Hungary Ltd. will have the strategic role in supporting growth and supply chain regionalization objectives by becoming the group’s regional Center of Competence for manual production activities by 2025. The investment is particularly important as it will help to continue employing former staff of Johnson Electric that has left the city.
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