The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.30 - Manufacture of air and spacecraft and related machinery
105 jobs Number of planned job creations
Announcement Date
24 August 2017
Employment effect (start)
30 April 2018
Foreseen end date
31 December 2018
Description
Hungarian Magnus Aircraft, developer of Fusion 212, the world's first two-seater aerobatics plane made from composite materials, laid the foundation stone of its factory in Pécs-Pogány, Southern Hungary. The HUF 5,16 bn (EUR 17 million) production plant, situated next ot the local airport, was supported with a HUF 2 bn (EUR 6,54 million) state grant.
Construction of the 8000 square meter facility starts in September, the first stage will be completed in April 2018, the composite production unit will become operational at the end of next year.
According to plans, the factory will create at least 105 jobs and will produce 200 planes annually.
Sources
26 August 2017: Hirado.hu
24 August 2017: origo.hu
Citation
Eurofound (2017), Magnus Aircraft, Business expansion in Hungary, factsheet number 91870, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91870.
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