NHK Spring has tripled its Hungarian production unit - VIDEO REPORT

NHK Spring has tripled its Hungarian production unit - VIDEO REPORT

NHK Spring has tripled its Hungarian production unit

The second production hall of NHK Spring has been completed in Tata nearly three years after the inauguration of the first one. With an investment of EUR 84 million, the leading Japanese automotive supplier has tripled the size of its first european unit by considerably increasing the production volume of the factory manufacturing automotive suspension springs and also by creating 163 new workplaces.

NHK Spring, celebrating its 80th anniversary this year, opened its first factory in Yokohama, which still features the company's headquarters today. During the last eight decades, the Japanese company group has become one of the leading automotive spring manufacturers in the world, as well as a complex automotive supplier. NHK Spring Group employing over 21,000 associates has about 60 subsidiaries worldwide, and its Hungarian partners include Suzuki and Audi as well.

The decision to establish the first European unit of NHK Spring was made in March 2015, and the hall built from a EUR 35 million investment was handed over in 2016 already. As a result of the satisfaction of the Japanese mother company and the increasing amount of orders, they soon decided to expand the unit manufacturing automotive suspension springs and stabilizers in Tata. With the second hall, which has just been inaugurated in the framework of an investment worth EUR 84 million, NHK Spring is to triple the size of its Hungarian unit, and also to create 163 new workplaces.

The cooperation between Hungary and Japan has a century-long tradition, since the two countries celebrate the 150th jubilee of the establishment of diplomatic relations in 2019. Japanese companies play an important role in the expansion of the Hungarian economy: currently some 160 Japanese companies employ more than 34,000 associates, and have invested HUF 800 billion in Hungary. Another remarkable fact is, that based on the latest report of IBM-PLI Global Location Trends, Hungary was the most important European target investment country for Japan in 2018.