Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó and ZOLTEKCEO, Mark Kawamura, met March 9, 2015 to sign a formal strategic cooperation agreement. This agreement outlines a plan to expand production capacity and employment at ZOLTEK’s plant in Nyergesújfalu in northern Hungary, which is already the largest carbon fiber factory in the world, and manufactures a wide range of materials for use in the wind energy, aerospace and automotive industries. This expansion would create 100 additional jobs immediately and another 200-300 over the next few years.

Prior to signing, Szijjártó shared the importance of this agreement to the Hungarian economy, citing past successes with similar agreements which have resulted in thousands of jobs. He also spoke of the value added by using the latest technology in the production process and by further strengthening Hungary’s position in the automotive industry, which is the flagship of the country’s economy.

In addition to signing the cooperation agreement, ZOLTEKhas also signed an agreement with the Budapest University of Technology and Economics to help educate the next generation of carbon fiber professionals.