Slovenia lost fight for Magna International, company goes to HungaryStaff Writer | August 22, 2017
Magna International has won approval to build a factory in western Hungary which could result in the Canadian car parts maker choosing Hungary over Slovenia for its new paint facility, Radio Slovenia reported.
Europe The third biggest car parts manufacturer
Slovenia's national radio station said Magna plans to start building the paint factory in Zalaegerszeg, about 45 kilometers from the border with Slovenia, unless Slovenia grants it construction permission soon.
According to Radio Slovenia Magna will start building the factory in Hungary, which is expected to start operating in 2018, in case anyone appeals to the environmental permit issued by the Slovenian agency.
In January Magna revealed plans to build a paint factory in Slovenia that would create 400 jobs.
According to Slovenian authorities Magna is ready to invest up to 1.24 billion euros in Slovenia and create up to some 6,000 jobs in several investment phases in the coming years, which would be one of the biggest foreign investments in the country.
Magna International is the world's third biggest car parts manufacturer, employing 161,000 people with 327 manufacturing operations in 29 countries. ■