Munich/Budapest – One of Hungary’s leading business magazines, Figyelő, has named Knorr-Bremse Rail Systems Budapest “Company of the Year” 2019 at its annual TOP200 gala. According to the expert jury, the company has displayed an outstanding performance in terms of investments and innovation.
“Employees and management of our company have done a lot to raise the reputation of Hungarian engineering sciences in the world and helped our economy and local communities to flourish,” said András Sávos, Managing Director of Knorr-Bremse Budapest, commenting on the jury’s decision. “I am delighted and honored that these achievements have now been recognized by prominent players and decision-makers in Hungarian business life.”
Knorr-Bremse Budapest, a subsidiary of the Knorr-Bremse Group, the world’s leading man-ufacturer of braking systems and supplier of additional subsystems for rail and commercial vehicles, employs 1,850 people including 400 engineers who contribute to world-class, cross-border innovations.
The braking systems manufactured in Budapest are installed in rail vehi-cles around the world. They can be found, for example, in high-speed trains in Europe and Asia, as well as in subway cars and trams in cities from Melbourne to Paris and Budapest.
By continuously developing and improving its competencies, products and services, the Hungarian branch of Knorr-Bremse has been on the rise for the last twenty years. Growth gained momentum in 2016 when an investment of EUR 17 million was made to expand op-erations and increase production output at the Budapest plant, making Knorr-Bremse Buda-pest the Group’s largest railway brake manufacturing location. Since 2017, Knorr-Bremse Budapest has also operated an advanced vocational training center, where 60 students per year are prepared to meet global market requirements and deal with the latest industry trends.
Along with the stability, security and innovation that are the hallmarks of the Knorr-Bremse Budapest plant, these achievements led the Figyelő TOP200 expert jury to name Knorr-Bremse Budapest its “Company of the Year” for 2019. In sum, Knorr-Bremse Budapest is a shining example of the excellent German-Hungarian relations in the fields of engineering, science and commerce. Professionals of both nationalities co-create products and solutions for the global market, thereby enhancing the competitiveness of the Hungarian economy.