Thyssenkrupp expands automotive business in eastern Europe

Thyssenkrupp has decided to build a new auto components plant in Pecs, in the southwest of Hungary. The €50m investment will result in a facility for the production of valves and electric motor components, with construction scheduled to begin in September. Company officials expect the plant to begin producing at the end of 2020 and that as many as 200 people will be employed there. "With our new investment in Hungary we are expanding not only our production network in Europe but also our product portfolio and manufacturing electric motor components outside Germany for the first time,” said Dr. Karsten Kroos, CEO of Thyssenkrupp’s automotive division.