The French Peugeot-Citroen car group’s parts subsidiary Faurecia Industrie is to build a new factory in Hungary to produce muffler parts, its European manager Jean-Pierre Buchwalder said, according to Agence France Presse. The 20-million-euro ($US17.5 million) investment in the western Hungarian town Vasvar is to produce 1.5 million muffler parts annually, primarily for Opels, Audis and Volkswagens, Buchwalder told a press conference.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Faurecia was to start building the 10,000-square-metre unit next year, and trial production was due to start in 2002. It planned to have a 400-strong staff from 2005 onwards.
Faurecia, a major supplier to General Motors, Volkswagen, Audi, Seat, Ford, Renault, Toyota and Daimler Chrysler in 27 countries, expected a turnover of 5.6 billion euros ($US4.9 billion) this year, Buchwalder said.
