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Maxon to transfer production to Hungarian unit - paper

2010-03-05

Swiss high-precision drive-system manufacturer Maxon AG will transfer production of whole motors and rotors to the company's Hungarian unit, Maxon Motor Hungary, which has so far been producing spare parts only, the business daily Napi Gazdasag reported on Thursday.

Maxon Motor Hungary will make a HUF 1.1bn (EUR 4.13m) investment, including HUF 280m in non-refundable government support, at its plant in Veszprem (C Hungary) this year to make the technological developments necessary to accommodate the new manufacturing operations.

The unit, which currently employs 165 people, may hire new workers as a result of its expanded production profile and a rise in orders.

Maxon Motor Hungary generated turnover of HUF 903m, according to preliminary data, in 2009, down from HUF 932.9m in 2008, but still up from HUF 757.3m in 2007.

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Maxon to transfer production to Hungarian unit - paper