Over five hundred new jobs created thanks to the investment of FAG
Schaeffler Group is a global integrated automotive and industrial supplier. The company group makes a key contribution to “Mobility for tomorrow” with high-precision components and systems in engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. Founded in 1999, FAG Magyarország Ipari Kft now launches this major capacity improvement project in response to increased demand for roller bearings in recent years.
The new greenfield plant, equipped with the latest technology, is going to manufacture roller bearings. The application of new manufacturing technologies may lead up to 50% increase in production volumes.
Germany has been a key economic partner of Hungary for many years, as evidenced by high foreign trade volumes and around 6,000 German companies that operate in Hungary and employ 300,000 Hungarian people. In 2015 27.3% of Hungarian exports went to Germany, and 26% of all imported goods were of German origin.