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Mar 02, 2017

Hungary signs defense agreement with Swiss technology company

RUAG is one of the world’s one hundred most important defense industry companies, and plans to manufacture fuselage elements for its Airbus 320 and Bombardier aircraft at its plant in Eger. The investment will create 180 new jobs. The government is contributing 382 million HUF in non-returnable funding towards the project

Hungary has forged a defense alliance with Swiss technology company The RUAG Group, it has been announced.

According to Péter Szijjártó, minister of Foreign Affairs and Trade, the group, which is owned by the Swiss Confederation, will be realizing a two billion HUF (6.5M EUR) aviation industry investment in Eger.

“RUAG is one of the world’s one hundred most important defense industry companies, and plans to manufacture fuselage elements for its Airbus 320 and Bombardier aircraft at its plant in Eger," Minister Szijjártó said.

“The investment by RUAG Aerostructures will also create 180 new jobs in the Heves County capital. The government is contributing 382 million HUF in non-returnable funding towards the project," he added.

“By choosing Eger for its latest research and development based investment, the Swiss company has acknowledged the favorable Hungarian investment environment, the Hungarian vocational training system, and this is also a recognition of the professional expertise and knowledge of the Hungarian workforce and the people of Hungary," Minister Szijjártó declared.

Last year,  the production value of the Hungarian aviation and aerospace industry exceeded 34 billion HUF (EUR 110M), 15 percent more than in the previous year. “1566 people work in this sector of industry in Hungary, and their numbers have increased by 18 percent during the course of the past year," the minister said.

Minister Szijjártó said that in view of the fact that RUAG has come to Hungary and Lufthansatechnik has also brought its engineering center to Hungary, this sector, the aviation and aerospace industry, is also expanding in Hungary.

“Hungarian-Swiss trade flow currently stands at an annual level of some one and a half billion euros," the minister said.