Economy
Coloplast starts EUR 70 million expansion in Hungary, set to create 700 jobs
The Premier said the investment will create 701 new jobs in total, 426 at Coloplast’s Nyírbátor-based facility and 275 at its Tatabánya unit.
The investment is worth over HUF 21 billion (EUR 69.8 million), to which the cabinet provided HUF 2 billion. Orbán said this will likely return in five years. He underined that 65% of Coloplast’s products sold all over the world are manufactured in Hungary. Therefore “our mind and heart both tell us that this Danish company is also a Hungarian company," he added.
Coloplast announced on 13 August that it will be investing around DKK 130-150 million over the next two years to expand its factory in Nyírbátor, Hungary.
“We're growing year by year and need therefore more space and more production capacity," said Coloplast CEO Lars Rasmussen in a statement.
“We've decided to expand one of our twofactories in Hungary because we consider that to be the most viable solution. The central location in Europe is important because the vast majority of our sales are in Europe," he added then.
Currently, Coloplast has production facilities in Denmark, Hungary, China, France and the USA, with over 8,000 employees. It has two facilities in Hungary, one in Nyírbátor and one in Tatabánya, with 2,200 empoyees. In the following years this staff will be expanded by 700, Allan Rasmussen has confirmed today.
The main reasons why Coloplast A/S picked Hungary to expand include the positive experiences gained in the country over the past 12 years and the easy access not only to highly-qualified labour but also to key European markets.
PM Orbán noted that two-thirds of Coloplast’s local staff are women, adding that the company’s choice is also an acknowledgement of the Hungarian employees.
“I would like to think that this investment is also an acknowledgement to the success of oru current economic policy," he said, adding that “what we are witnessing now is a thesis proving that you can put an economy on a growth path even with low inflation and low budget deficit."
He stressed that both inflation and the shortfall will be kept permanently low, the trade balance and the current account balance will remain positive and there will be growth. “We will regain our leading position in Central Europe that we have lost over the past years," Orbán added.
Coloplast began production at the Tatabánya plant in April 2002. The second production hall there was inaugurated in October 2003, as rising demand required an upgrade. The third production hall was completed by the autumn of 2004. The second production facility in Nyírbátor was launched in 2007.
The investment is worth over HUF 21 billion (EUR 69.8 million), to which the cabinet provided HUF 2 billion. Orbán said this will likely return in five years. He underined that 65% of Coloplast’s products sold all over the world are manufactured in Hungary. Therefore “our mind and heart both tell us that this Danish company is also a Hungarian company," he added.
Coloplast announced on 13 August that it will be investing around DKK 130-150 million over the next two years to expand its factory in Nyírbátor, Hungary.
“We're growing year by year and need therefore more space and more production capacity," said Coloplast CEO Lars Rasmussen in a statement.
“We've decided to expand one of our twofactories in Hungary because we consider that to be the most viable solution. The central location in Europe is important because the vast majority of our sales are in Europe," he added then.
Currently, Coloplast has production facilities in Denmark, Hungary, China, France and the USA, with over 8,000 employees. It has two facilities in Hungary, one in Nyírbátor and one in Tatabánya, with 2,200 empoyees. In the following years this staff will be expanded by 700, Allan Rasmussen has confirmed today.
The main reasons why Coloplast A/S picked Hungary to expand include the positive experiences gained in the country over the past 12 years and the easy access not only to highly-qualified labour but also to key European markets.
PM Orbán noted that two-thirds of Coloplast’s local staff are women, adding that the company’s choice is also an acknowledgement of the Hungarian employees.
“I would like to think that this investment is also an acknowledgement to the success of oru current economic policy," he said, adding that “what we are witnessing now is a thesis proving that you can put an economy on a growth path even with low inflation and low budget deficit."
He stressed that both inflation and the shortfall will be kept permanently low, the trade balance and the current account balance will remain positive and there will be growth. “We will regain our leading position in Central Europe that we have lost over the past years," Orbán added.
Coloplast began production at the Tatabánya plant in April 2002. The second production hall there was inaugurated in October 2003, as rising demand required an upgrade. The third production hall was completed by the autumn of 2004. The second production facility in Nyírbátor was launched in 2007.
