Composite One (Szigetszentmiklos / Hungary; www.compositeone.hu) said it will invest EUR 3.5m into a new plant for aviation components in Somogyvar, southwest of Lake Balaton. The ground-breaking ceremony was held on 19 September, with actual construction set to begin just a few days later. The site is expected to be completed in two years’ time, at which point the company intends to move there from its current offices near Budapest.

The Hungarian company hopes the plant will provide 300 new jobs in a region ravaged by unemployment which could help explain the Hungarian government’s decision to provide a subsidy amounting to about half the original investment sum. The money could help the comparatively small manufacturer of prototype composite parts for the transportation sector and distributor of resins and reinforcing fibres to begin industrial production on a larger scale.