“Investments that create high added value and represent an advanced level of technology correspond best to Hungary’s economic strategy”, Minister of Foreign Affairs and Trade Péter Szijjártó declared on Wednesday in Budapest at a press conference to announce technical textile manufacturer Metyx Hungary Limited’s latest investment in Kaposvár.

The Minister highlighted the fact that the investment project being realised by the Turkish-owned company employs advanced technology and is creating jobs that require a high level of training and provide a dependable livelihood, and accordingly it corresponds excellently to Hungary’s economic strategy.

The Minister told the press that the Government is providing 902.5 million forints in funding towards Metyx’s 3.2 billion forint (EUR 10.3 million) investment, which is creating 182 new jobs. Thanks to the project, Metyx’s factory space will be increasing by some 6 thousand square metres and 4 new production lines will be installed, he added.

DownloadPhoto: Bernadett Fejér/Ministry of Foreign Affairs and Trade

“The composite products manufactured in the Somogy County capital are primarily used in wind power plants, but are also used by the automotive industry, meaning Metyx’s plant could help the Hungarian automotive industry achieve yet another production record”, Mr. Szijjártó highlighted.

He also pointed out that the company is an important supplier to Siemens, which is world number one in the production of offshore wind power plants, meaning that in addition to a high level of technology, continuous development is also assured in view of the fact that the sector is undergoing continuous innovation.

DownloadPhoto: Bernadett Fejér/Ministry of Foreign Affairs and Trade

Managing Director of Metyx Hungary Limited Ugur Üstünel told reporters that the company is planning additional projects in Kaposvár, because in view of the rate of growth of recent years Metyx is able to further develop its European activities here in Hungary.

He recalled that the company began operation in Hungary in 2015 with 15 employees, increasing the number of staff to 155 in 2016. The plant in Kaposvár manufactures its products using composite technology and uses renewable energy during the production process, he added.

DownloadPhoto: Bernadett Fejér/Ministry of Foreign Affairs and Trade

The region’s Member of Parliament Attila Gelencsér justified the significance of the new investment in Kaposvár with the fact that industrial culture had previously found it difficult to lay down roots in the area. “But in recent years the region’s economic performance and the turnover of the companies operating here has been increasing, their social responsibility is also gaining strength, and according to feedback they have a positive outlook and are planning further investments”, he added.

(Cabinet Office of the Prime Minister/MTI)