Thyssenkrupp Relocates Development Center in Hungary

Germany’s Thyssenkrupp has decided to move its Budapest-based automotive industry development center to a bigger location in the capital and increase the headcount  by 100 employees over the coming years, online newspaper piacesprofit.hu reports. The center is relocating to a 16,000 sqm area in the South Buda Business Park where the company will have nearly 30% more laboratory and office space available compared to its current location. The competence center was established by Thyssenkrupp and the Budapest University of Technology and Economics (BME) 20 years ago. In addition to the development center, Thyssenkrupp operates manufacturing units in several Hungarian locations: Jászfényszaru, Debrecen and Győr. The company will start the construction of an engine parts factory in Pécs this year as part of a greenfield investment, according to the report.