French company Le B¨¦lier to invest in aluminium manufacturing unit in Hungary

Le Bélier is a French group specializing in manufacturing molded aluminium safety components for cars and will be making an investment of 8 billion forints (EUR 26.7) in Ajka, Western Hungary, as recently announced by the foreign minister.

The first phase of the project will be supported by the Hungarian government, contributing 507 million forints from the European Union Funding.

Péter Szijjártó, the minister of Foreign Affairs and Trade, said there are even talks about the government funding the second phase of the project as well.

After development, this project will create 100 jobs, boosting the annual export revenue of the Le Bélier Hungarian unit to 40 billion forints. In 2013, the unit’s export revenue came to 29 billion forints according to public records.

There are 1,500 people employed in the three Hungarian plants and 95% of local production is exported to companies like Volkswagen and BMW. The group has even signed a strategic cooperation agreement with the Hungarian government in January this year.

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