“Termelés-Logistic-Centrum Limited (TLC Ltd.) will be constructing a 29 thousand square metre production hall by the summer of 2020 in the Veszprém County town of Litér with an investment of 10 billion forints (EUR 30.7 million), Minister of Foreign Affairs and Trade Péter Szijjártó announced at a press conference in Budapest on Monday.

The Minister added that the company will be receiving an investment subsidy of 1.27 billion forints (EUR 3.9 million).

Mr. Szijjártó justified the state assistance with the fact that the investor will be installing state-of-the-art production equipment and robot technology in the steel structure production plant, and will be creating 80 new workplaces.

“In addition to the favourable infrastructure and transport, the investor-friendly environment and the state funding, the owner of TLC Ltd., the German Sennebogen Group chose Hungary because based on its over two decades of operations here it is satisfied with the level of skill of the local workforce”, Managing Director Michael Seiferling said.

He justified the capacity expansion with increased orders, adding that by 2021 the plant is expected to also be expanded with its own vocational training institution.