Asahi Glass has commenced production at its new EUR 130 million (HUF 32 billion) plant in Tatabanya (north-west Hungary), business daily Napi Gazdasag reported on 3 January 2006.
The state will provi…
Asahi Glass has commenced production at its new EUR 130 million (HUF 32 billion) plant in Tatabanya (north-west Hungary), business daily Napi Gazdasag reported on 3 January 2006. The state will provide HUF 7 billion in subsidies for the plant, mostly in training contributions and tax subsidies, Mr Koka said in July 2005, when Asahi decided to build the plant in Hungary. Mr Koka said the subsidy was one of the reasons that Asahi Glass had chosen Hungary, in addition to the country“s good infrastructure and its qualified workforce. By 2009, Asahi Glass expects the plant to generate annual revenue of USD 70 million, Mr Koka said. The plant will supply the Suzuki plant in Hungary, but 80% of its output will be exported. The plant will supply the Toyota plant in the Czech Republic, Volkswagen plants in the Czech Republic and Slovakia and the future KIA factory in Slovakia. The plant will also supply Skoda and Citroen. Asahi Glass signed an agreement with the local council of Tatabanya to set up the plant in the city“s industrial park in September 2005.