Bosch Invests Further in Hungary

BUDAPEST, HUNGARY – October 20, 2011: The Bosch Group started building a new headquarters for its Hungarian operations in Budapest yesterday. Upon completion the new building will house Bosch’s Engineering Center Budapest, and several other operations, including the commercial and administration departments for the automotive aftermarket and power tools divisions as well as drive and control technologies from Bosch Rexroth. The complex will be built in two phases. Construction of the first building started with the laying of the foundation stone on 19 October 2011 and will finish in early 2013. The investment will be 6 billion forints. The second construction phase will start in 2013 and finish in 2014.

The Engineering Center Budapest is an R&D base for Bosch’s automotive technology business sector, and at present operates in a rented building on Gyömrői út. The center recently took on its 600th engineer. For the new building, the leading supplier of technology and services purchased a nearly 32.000 m2 plot of land next to the existing building. Bosch: Long-term commitment to Hungary

At the foundation stone laying ceremony, Sándor Czomba, Minister for Employment at the Ministry of the National Economy, emphasised the significance of the new development and Bosch’s commitment to creating jobs, “I am very happy to see that Bosch is launching another major project in Hungary. This proves that it is worth investing and looking to the long term in Hungary. We support every initiative that creates value and is based on work and real achievements. Bosch is at the forefront of this in Hungary.”

The foundation stone was laid by Thomas E. Beyer, representative of the Bosch Group in Hungary, Minister Czomba, Jan Peter Stadler, Vice President of Bosch Engineering Center Budapest, István Ács, General Manager of Bosch Rexroth Kft., and Róbert Kovács, Mayor of the 10th District of Budapest. Thomas E. Beyer said, “As well as providing high-standard facilities for innovative work, the new building of the Engineering Center Budapest will serve the development and long term growth of the Group as a whole. With this investment, Bosch again shows its long-term appreciation of Hungarian skills and Hungarian engineers.”