ZF expanded to manufacture an automotive product success in Hungary - VIDEO REPORT

ZF expanded to manufacture an automotive product success in Hungary - VIDEO REPORT

Péter Szijjártó, Minister of Foreign Affairs and Trade

German ZF continues to manufacture its eight-speed automatic transmission for leading automotive companies in Eger as well. The choice of the venue was supported by the professional expertise of the staff working there and the excellent infrastructure, too. Built with an investment of almost EUR 100 million, this 40,000 square metre production hall can produce 150,000 transmissions every year. The investment realised in the Eger Industrial Park shall create 770 new jobs by the end of 2019.

With its traditions of more than hundred years, the company is one of the biggest engine, steering system and running gear production groups of the world, employing as many as 146,000 persons in almost 40 countries and 230 sites. In 2017, it realised a price revenue of more than EUR 36 billion and the Group spends around 6 to 7 % of its price revenue per year (that is, EUR 2.23 billion in 2017) on research and development, focussing especially on efficient and electric propulsion and on a world without accidents. ZF products are included in Volvo, Renault, Volkswagen, Nissan and MAN vehicles, among others.

ZF Hungária Kft. has produced transmissions for commercial vehicles since more than 20 years and has an own development and testing centre within the ZF Group. The company has always put a special emphasis on building the Hungarian suppliers' background and on cooperation with educational institutions. In the interest of ensuring the labour supply, the company has had an own vocational training workshop since 2006 and is in close cooperation with Bornemissza Gergely Vocational Training Institute of Eger.

This recent development in Hungary of ZF is a clear sign of the growth potential of the sector, and the power of Hungarian automotive industry is also shown by the fact that more than 40 companies from among the 100 biggest automotive suppliers of the world are present in Hungary. This new site amounts to the expansion of the global manufacturing network of ZF since its automatic eight-speed automatic transmission to be incorporated in cars are one of their most successful products.

The importance of this development in job creation is well shown by the fact that this investment which was announced by ZF in the last year brought the "Company of the Year for Job Creation" prize for ZF in February 2018 at the "Investors of the Year" Gala organised by HIPA for the seventh time.