Friday, February 4, 2005

Hungary Suzuki unit to boost output in 2005/2006

Reuters

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ESZTERGOM, Hungary - The Hungarian unit of Japanese car maker Suzuki Motor Corp. said on Friday it would increase output to 150,000 units in 2005 from 95,000 last year.

Next year, Suzuki, which employs 2,700 people, plans to produce 200,000 cars at its Hungarian plant in Esztergom, north of Budapest, where it has been increasing capacity.

"Including the suppliers, Suzuki gives jobs to some 30,000 people," Prime Minister Ferenc Gyurcsany told journalists after Suzuki launched the production of its new Suzuki Swift model.

Suzuki, one of the biggest foreign investors in Hungary, said it expected sales revenues to total 300 billion forints ($1.59 billion) this year.

The company last year invested 60 billion forints in Hungary and increased its annual production capacity to 200,000 units from 90,000 units previously, and plans further investments worth 50 billion forints this year.

Suzuki sold 100,292 cars in Hungary last year, up from 89,952 in 2003, and has by far the biggest slice of the Hungarian car market.