German engineering company Bosch to move car parts business to Hungary.

By bne IntelliNews January 18, 2010
German engineering group Bosch plans to move its car parts production from Wales to its Hungarian bases in Miskolc and Hatvan respectively, regional spokesman for the company, Ferenc Ficzere, said. He explained that the capacities of the local facilities would be increased in order to accommodate the increased production and the relocation would not thus entail the construction of a new plant. The measure was expected to be implemented in mid-2011 and was justified by economies of scale as well as by the cheaper labour costs in Hungary , which were 65% below the level in Wales . At this stage, no information was provided as to the likely volume of the investment in Hungary or the amount of the new jobs created, related to the production relocation. Currently, Bosch employs 900 people at its Wales plant.

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