Artesyn Technologies (Boca Raton, FL) announced that the company has opened a new power supply manufacturing in Hungary. The inauguration ceremony was held seven months after building work first started on the 10,700 square-meter premises. The new $7 million plant is equipped with state-of-the-art manufacturing automation for high-volume production of ac/dc power supplies and wound magnetic components. The company has also committed a further $4 million to fund expansion of the facility over the next few years. Artesyn plans to increase its workforce in Hungary from 600 to 1,200 by mid-2003.
The new manufacturing facility is located in Tatabanya, about 60km from Budapest. It is served by a major truck road with easy access to several international airports. Artesyn expects the plant to help it accelerate order fulfillment throughout Europe, as well as provide key manufacturing support functions for the company's new global wireless division, which is based in Vienna.
Artesyn Chairman and CEO Joseph M. O'Donnell commented, "We took the strategic decision to invest heavily in Tatabanya for a variety of reasons. Artesyn has operated a facility here for many years, and has grown to be a major employer in the area, with what is now a highly skilled workforce. We have also built up a considerable rapport with local technical schools and colleges. Both of these factors are vital to our growth plans, especially since this part of Europe is becoming extremely popular with many multinational companies, which all draw on the labor market. Tatabanya is also a very important manufacturing location for Artesyn, which provides us with a springboard for accelerating delivery of low-cost ac/dc products to our customers throughout Europe."