SUZUKI ENTERS LONG TERM STRATEGIC PARTNERSHIP WITH HUNGARIAN GOVERNMENT
Budapest, November 2012 – Continuing over twenty years of cooperation between the Hungarian Government and Magyar Suzuki Corporation (MSC), the parties signed a strategic partnership agreement for cooperation to strengthen the existing economic bonds and promote sustainable and steady operation. The new agreement establishes the framework for further expansion of MSC’s manufacturing and developing activities in Hungary, and also enables MSC to maintain its competitiveness on the European market.
By signing the partnership agreement, the Hungarian Government has expressed its intention to support, in several ways, a stable and predictable operation for Suzuki in Hungary, while Magyar Suzuki Corporation confirmed to the Government MSC’s plans for a long-term presence in the country and for manufacturing Suzuki models for the Hungarian and European markets.
“In the present situation in the European car market, even in very tough economic circumstances, we have been able to maintain our production and even launch new models from time to time, being in a special position as Suzuki’s sole manufacturing company on the continent providing vehicles to all of the European markets,” Hisashi Takeuchi, Managing Director of Magyar Suzuki Corporation said. “In order to further enhance our competitiveness, we need stability and a supportive economic background in the long run. Taxation, an incentive package for investment, well-trained labour force, improvements in infrastructure, as well as a healthy network of accomplished Hungarian suppliers are all parts of such a business environment, as are labour market regulations,” he added.
Magyar Suzuki provides jobs in Hungary through direct employment as well as through its extended network of Hungarian suppliers and dealers, which makes the company a major stakeholder in the automotive sector and a supporting pillar for the economy of Hungary. Under the umbrella of the present agreement, MSC hopes to increase its current share of nearly two per cent in Hungarian export and develop its uniquely wide suppliers’ base in the country, thus supporting the growth of small and medium size businesses in the automotive sector. Magyar Suzuki, as Suzuki’s only European car production base, delivers automobiles to the whole continent (as well as to several regions outside Europe). The new strategic cooperation can improve Suzuki’s competitiveness in Europe, too. For the UK market, Magyar Suzuki produces Splash, Swift, Swift Sport and SX4 models.
Magyar Suzuki hopes that the agreement will create a firm ground for further development and investments. The company has confirmed its plans to con