Chinese producer to set up Hungarian LED factory
Chinese lighting maker Shanghai Feilo Acoustics has signed a letter of intent with the Hungarian authorities with the aim of setting up a new LED lighting production facility in Sárospatak, in Hungary’s north-eastern part, reports local news weekly Budapest Business Journal.
The manufacturing project will see the company make a wide range of LED lighting products with the use of plastics and other materials. Under the plan, Shanghai Feilo Acoustics is to invest about €30m in setting up the new factory.
In the first stage of the project in Sárospatak, the production facility is expected to employ about 400 workers, according to the Chinese firm.
The planned investment has secured the support of the Hungarian Investment Promotion Agency (HIPA) and the Hungarian government, according to the information obtained by the paper.
Sárospatak is located about 246 km from the country’s capital Budapest.
Set up in 1984, the manufacturer is based in Shanghai, China. The firm says it is involved in the manufacturing and distribution of a wide range of lighting equipment both in China and internationally.