The Hungarian units of Europe's biggest tyre maker, Michelin, has started up the Economical Development Kht fund with the aim of helping small- and medium-sized enterprises (SMEs) and job creation.
The company itself is providing 250 new places in Nyнregyhбza through a Ђ60m investment, said regional director Joel Pouget.
The factory in Nyнregyhбza, which produces brand tractor tyres for the European market, will expand to car tyre production from September. The company, as part of its Michelin Development Project, will support SMEs within a 50 km distance from its sites. They will provide support in terms of loans of Ђ1m a year.
Source: Budapest Business Journal
