The inauguration of Nissho Hungary Precíziós [‘Precision’] Ltd.’s new plant in Újhartyán, SE of Budapest, is an important milestone for the Japanese-owned company that manufactures secondary processed products made of film and adhesive tape and optical film primarily for automotive electric components.
The EUR 10 million investment, 35% of which is covered by Hungarian taxpayers through a government decision, allows state-of-the-art technology to prevail for the purpose of meeting elevated customer demand.
Nissho Hungary Precíziós Ltd. is owned by Nissho Corporation and Nitto Denko Corporation − both being Japan-based businesses. The latter is the majority owner of the Hungarian subsidiary, and it is made up of a network of 99 companies worldwide.
The greenfield investment in Újhartyán was celebrated at the inauguration ceremony of a new plant of 5,800 sqm; production launched already back in January 2022, though. Thanks to the installed high-tech machinery, products of higher added value will be manufactured to adapt to changed and growing customer needs. Nissho’s products mainly target European markets, including Hungary.
Customers of the Hungarian operation, which started 22 years ago, included Magyar Suzuki, Denso and Alpine early on, then a product portfolio change attracted new partners such as Bosch, Continental, Samsung SDI and Valeo. The shift to clean & high precision film converting was necessary to correspond with the electrification of the automotive industry.
“In the last two years, we faced several difficulties with the COVID-19 pandemic, the semiconductor shortage and the conflict in Ukraine which all has negatively impacted our business. However, the trend of electrification in the automotive industry will not be affected; it will rather accelerate, according to Managing Director of Nissho Hungary Precíziós Ltd., Kazuhiro Tsudasaid, who is very optimistic about dynamically growing sales.
Japanese economic presence is thus further strengthened in Hungary. The Far-Eastern country is the 8th most significant investor here, and its direct investments account for 3.8% of the total FDI stock.
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