Diversified Tier 1 supplier thyssenkrupp AG - which rebranded itself with a lower case logo at the start of 2016 - recently announced it would be expanding its automotive components business with a new plant based in Hungary.
Specifically, around €100m (US$111.13m) will be invested into a new site to produce engine components and steering systems in Jászfényszaru, near the capital city, Budapest. Construction will begin in spring 2016, and the production of electronic power steering (EPS) and cylinder head covers with integrated camshafts is slated for 2018.
Karsten Kroos, Chief Executive of thyssenkrupp’s Components Technology business, said
