OTTO FUCHS implements an expansion in Tatabánya

With over 100 years of history, German-owned OTTO FUCHS is expanding its plant in Tatabánya within the framework of an investment worth more than HUF 12.7 billion. With this development, the company manufacturing wheel rims will create 180 new jobs and will increase its annual capacity by 50% - from 1.2 million to 1.8 million units. The new machines will enable production of larger diameter wheel rims, and the range of products will also expand by the production of wheel rims for trucks. Based on an individual government decision and promoted by the Hungarian Investment Promotion Agency (HIPA), the investment received a support from the Hungarian government in the amount of HUF 1 billion.

Péter Szijjártó, Minister of Foreign Affairs and Trade at the announcement of the investmentFounded in 1910, OTTO FUCHS KG is an internationally active, leading light metal industry company with activities covering manufacturing of aeronautical/aerospace parts and auto parts, but also those covering construction and mechanical engineering areas as well. The company's headquarters are based in Meinerzhagen, North Rhine-Westphalia, where it employs as many as 2,400 people, and together with the seven subsidiaries located on four continents it has a total of 8,600 employees and generates a turnover of more than EUR 2.4 billion per year.

OTTO FUCHS Hungary Kft.'s plant located in Tatabánya manufactures exclusively forged aluminium wheel rims which, compared to cast wheels, are lighter, their tensile strength is larger and they are of better quality. The company's customers include automotive giants and premium carmakers, such as Alfa Romeo, Audi, BMW, Fiat, Mercedes, Porsche, Volkswagen and Volvo. In 2015, the Hungarian subsidiary reached more than HUF 17 billion in revenues and employed 323 people.

Due to the increasing customer demand, the owner has decided to expand the production capacities. The value of the investment exceeds HUF 12.7 billion and will result in an increase in the number of employed by 180 people.

The capacity increase will lead to the expansion of the machinery by two new press machines, and two new roller and machining production lines. After the investment is put into operation, the current annual production capacity of 1.2 million units will increase to 1.8 million units. Due to the new machines, the range of manufactured products will further broaden, as manufacturing of larger diameter wheel rims and truck rims will become possible.

Director of Finance of OTTO FUCHS KG Richard Hussmanns said: The Tatabánya-based company is an important element of OTTO FUCHS group's automotive strategy. In addition to the business premises' competitiveness, the quality of the manufactured wheel rims is also highly valued by globally-recognised customers. The success achieved in recent years and the company's development are due primarily to the dedicated personnel.

Minister for Foreign Affairs and Trade Péter Szijjártó emphasised: the production value of vehicle manufacturing increased by 17.6 % in 2015 compared to the same period of the previous year. The current project also shows that an internationally competitive industry has been established in Hungary.

In connection with the announcement, President of the Hungarian Investment Promotion Agency (HIPA) Ésik Robert added: the significance of the investment worth more than HUF 12.7 billion implemented by OTTO FUCHS is in the fact that, along with the large-scale increase in the number of personnel and production capacity expansion, the range of products will also further broaden.