Nokia spending 10 million euros to expand Hungarian plant
By Stefan Constantinescu on Friday, February 2nd, 2007 at 1:12 PM PST In Financial/Corporate News
Leading communications technology firm Nokia (NYSE: NOK) has announced on Friday that it will further expand its Komárom plant (northwest Hungary), investing EUR 10 million in the project.
Construction of the new building, in which Nokia will deal with delivery-related tasks, will be launched soon, Nokia said in a statement. The new facility will sprawl on 10,000 sqm and is to be complted by August this year.
Mobile phone production kicked off in the Komárom plant seven years ago and the factory produced its 300 millionth handset (a Nokia 2310) at the end of 2006.
“The new investment indicates that Nokia remains committed to Hungary and the Komárom plant," said Timo Kahelin, chief executive of Nokia Komárom Kft.
In January 2004, Nokia decided to expand the Komárom unit and pumped more than EUR 50 million into it, widening the production area to over 50,000 square metres.
The factory currently operates with a staff of some 4,000 people, but Nokia said it would recruit additional workers.
Expansion = more handsets being made = more handsets being sold.
Nice.
