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Airbus: Joint Venture with the Hungarian State

D&T
,
July 17, 2020

The Hungarian state and Airbus Helicopters are establishing the joint venture 'Airbus Helicopters Hungary Ltd.' The deal was announced in Budapest this Friday.

The Hungarian state has a 30% ownership stake in the newly established joint venture in Gyula, SE Hungary. From 2022, the factory will produce helicopter parts exclusively for Airbus.

"The investment in Gyula fulfills one of our most important goals: we create development opportunities for domestic companies, as the production of raw materials for parts is provided by domestic metal processing and other industrial companies that meet high quality requirements," Roland Juhász, Secretary of State for Public Assets said.

He added that “the start-up serves strategic and national interests and is part of a complex set of economic, social, security and defense policy objectives. Through the investment, the government intends to increase the diversification of the economy, create new jobs, create competitive and high value-added industries, and improve the country's innovation capacity."

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