Şişecam Expands Capacity, Novation Tech Installs High-Tech

Şişecam Expands Capacity, Novation Tech Installs High-Tech

To counter the economic effects of the pandemic, competitiveness boosting programs have been gradually launched under government subsidy schemes (VNT) in Hungary which triggered developments in up to 30 different industries. Turkish Şişecam Automotive and Italian Novation Tech, both engaged in automotive, announced their latest investments this week related to the most recently initiated VNT3 incentive improving schemes which concern capacity expansion and high-tech installation, respectively.

The investment of Şişecam Automotive Hungary Kft., a Turkish-owned company specializing on glass-packaging, will be implemented with the help of competitiveness increasing subsidy schemes under which a plot and new equipment will be purchased, and a warehouse will be built in Aszód in value of HUF 3 billion.

Further benefit of the development is the creation of 100 new jobs. The capacity expansion paves the way for revving up export sales as well.

Having a tradition of 35 years, the Şişecam Group has become a global stakeholder by now: it produces flat glass, glassware and glass packaging material, and it exports the bulk of its products to 150 countries of the world. Italy, the US, France and Germany are all among its major export markets.

Italian-owned Novation Tech is also primarily active in automotive, and it intends to modernize its site in Szeghalom in Békés county, in the South East of Hungary. The company, which produces among others carbon fiber reinforced structural composite parts, plans to establish an automated painting department and upgrade the prepreg laminating rooms to meet the highest quality requirements.

An important part of the HUF 1.36 billion investment of the company is to purchase their rented production hall and a high-power transformer station to help a more economical operation and contribute to their green energy growth.

Novation Tech is TIER1 and TIER2 supplier of OEMs such as Ferrari, Lamborghini, Maserati or BMW. Besides it supplies stakeholders in aviation and the leisure and sporting goods industry with light weight structures essential for their products.