Zoltek, owned by Japan-based Toray Group, has signed an agreement with the Hungarian government to expand production capacity and employment at its Nyergesújfalu carbon fibre plant, Hungarian news agency MTI reported.

 

As per the agreement signed by Hungary’s minister of foreign affairs and trade Péter Szijjártó and Zoltek CEO Mark Kawamura, the expansion would immediately create about 100 new jobs and additional 200-300 jobs over the next few years at the Nyergesújfalu plant in northern Hungary, which is already the largest carbon fibre factory in the world.

 

The Hungarian plant manufactures a wide range of materials for use in the wind energy, aerospace and automotive industries.

 

Prior to signing the agreement, Szijjártó cited past successes with similar agreements which have resulted in thousands of jobs. He said value addition by using the latest technology in the production process would further strengthen Hungary’s position in the automotive industry, which is the flagship of the country’s economy.

 

Separately, Zoltek also inked an agreement with the Budapest University of Technology and Economics to help educate the next generation of carbon fibre professionals. (RKS)