The Hungarian unit of Austrian-owned logistics company Knapp is investing nearly 6 billion forints (EUR 16.7m) at its base in Nemesvámos, in western Hungary, with a 1.4 billion forint grant from the Hungarian government, Péter Szijjártó, the minister of foreign affairs and trade, said on Tuesday.
The investment will create 500 high value-added jobs, Szijjártó said. He added that Hungary had competed among 20 countries to bring Knapp’s investment to the city, where the closure of lawnmower maker MTD Hungária’s operation in 2020 left 456 people jobless and an industrial area of 90,000sqm vacant.
Local lawmaker Péter Ovádi noted that German-owned office furniture maker Bock Hungária announced plans late in 2020 to take over some of MTD Hungária’s vacated space in Nemesvámos, creating jobs in the city.
Knapp chief operating officer Franz Mathi said their group offers customized logistics solutions in several sectors, including healthcare, fashion, retail and industry.