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Jabil Circuit to expand Hungarian plant

US-based contract electronics manufacturer Jabil Circuit will create 670 new jobs at its plant in the northeastern Hungarian city of Tiszaújváros, creating 370 new jobs, a Hungarian Economics Ministry official has announced.

The EUR 23 million investment will be financed from Jabil’s own resources. The Hungarian government will grant Jabil a subsidy, said Zsolt Becsey, state secretary at the Economy Ministry, at a press conference on Friday. He has refused to disclose the exact size of the subsidy, but said it does not reach one million forint per new job.

Becsey also said Jabil will be granted a corporate income tax break, which will be much bigger than the cash support.

Jabil is to complete the investment project by the end of 2011. Becsey underlined that the state subsidy can be recovered fully already in 2012.

Lajos Palásti, managing director of Jabil’s Hungarian unit said the project involves a capacity boost and technological developments, as well.

According to a January report in the local press, Jabil was to expand its staff by 600-800 people, including some 100 highly-qualified technicians and management members to be able to meet demand posed by a new order from the telecommunications sector, the paper said.

 

Last July, Jabil said it would hire at least 1,000 people by the end of the summer.

 

portfolio.hu

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