Segura to expand its Szolnok plant

Segura to expand its Szolnok plantThe automotive bodywork and engine metal component factory of the Segura Group in Szolnok makes an investment of more than EUR 17 million until the completion of its new expansion. As a result, according to plans, 100 new jobs will be created. Due to the development, the plant area will increase to 25,000 square metres, which is a two-and-a-half-times increase in the area of operation compared to that when production was launched in 2007. Expansion in Hungary was favoured by its skilled and creative workforce, logistics facilities and favourable investment environment.

Péter Szijjártó, Minister of Foreign Affairs and Trade at the announcement of the investment

The Spanish company established in 1970 is engaged in the manufacture of automotive parts, primarily for seats, bodywork, engines, exhaust systems and interior components. Its services include design, prototyping and mould manufacturing tasks, and it also performs stamping, welding, surface treatment and foaming. In addition to its three plants in Spain, the Group also has a production unit in each of Hungary and China. The staff of our Szolnok factory provided assistance in the launch of the latter with their professional experience. The company currently employs more than 730 people. Their most important customers include, among others, the brands of the Volkswagen and PSA Peugeot Citroën concerns, BMW, Mazda and Volvo.

F.Segura Hungary Ltd. has been operating in Szolnok since its establishment in 2005. Its core activity is the manufacture of road vehicle and vehicle engine parts. The sales revenue of the company exceeded EUR 28 million in 2015; almost 60% of this amount came from export sales. According to the information they provided, they currently employ more than 200 people.

The current project is the third phase of a development series. Under the project, it carries out a capacity expansion worth of more than EUR 17 million at its Szolnok automotive bodywork and engine metal components factory, and plans to create about 100 new jobs. According to an individual government decision - with the coopreation of the Hungarian Investment Promotion Agency (HIPA) - the Hungarian Government contributes to the project with a non-refundable cash grant of about EUR 2.1 million. As a result of the development, the plant area will be 25,000 square metres, which is two and a half times the area of operation originally developed in 2007.

Spain is the 14th most important trading partner of Hungary. Bilateral foreign trade turnover increased by more than a quarter, i.e. 25.9%, in 2015. In addition, Spain is the 19th most important investor in Hungary: according to the latest data, the portfolio of direct capital investments from this country was EUR 549.7 million. In addition to continuously developing economic and investment relations, a comprehensive educational, scientific and cultural cooperation agreement is just about to be signed between the two countries.