Ten Pao

Type
Business expansion
Country
Hungary
Region
Alföld és Észak; Észak-Magyarország; Borsod-Abaúj-Zemplén
Location of affected unit(s)
Miskolc
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.1 - Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
27.12 - Manufacture of electricity distribution and control apparatus
300 jobs
Number of planned job creations
Job creation
Announcement Date
5 October 2017
Employment effect (start)
1 July 2017
Foreseen end date
1 January 2021

Description

Hong Kong-based electronic charger and power supply manufacturer Ten Pao opened its new production plant and connecting office units in Misckolc, northern Hungary. Operating with a 17-strong staff since July, the 2,600 square meter factory will create 300 new jobs. Targeting a USD 100 million (EUR 85.2 million) production output by 2021, the factory will produce charging units, printed circuits and automatic switches.

Ten Pao, with the first step of a HUF 4.5 billion (EUR 14.6 million) investment, chose Miskolc for the location of its first non-Asian facility as most of its partners are based in Hungary.

Sources

  • 5 October 2017: 24.hu
  • 5 October 2017: boon.hu

Citation

Eurofound (2017), Ten Pao, Business expansion in Hungary, factsheet number 92328, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92328.