German tire maker Continental sticks to expansion plans for Hungary.

By bne IntelliNews July 7, 2010
German tire maker Continental will not abandon its plans to develop further the Hungarian operations despite intentions to build a new plant in China, business daily Vilaggazdasag announced. It revealed that the investor will complete a project for enabling production of engine electronics and brake systems in its Budapest base as well as the production of other car components in its unit in the city of Mako in south Hungary. The first project is expected to cost HUF 7bn (EUR 24.5mn) and create up 175 new job positions within three years. The second project should be completed already this year and will be worth EUR 5mn.

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