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Romania’s Softronic Craiova and Hungary’s LAC establish JV

Romania’s Softronic Craiova and Hungary’s LAC Holding have singed the document establishing a JV to manufacture electric locomotives in Hungary.

Present at the event, economy ministry state secretary Béla Glattfelder said the Hungarian government and the ministry would support the launch of the Hungarian engine production. The JV could create 50 new jobs on the short term and 250 jobs on the longer run, among them highly qualified jobs, according to Glattfelder.

The two companies announced last December plans to set up a joint venture 51% owned by Softronic and 41% by LAC Holding. They said they were seeking the site for the Hungarian plant, which is planned to be completed by the end of 2015, and produce the first  locomotive in 2016.

Softronic also handed over the Transmontana locomotive ordered by CER Hungary Zrt, part of LAC Holding. The HUF 800 million (EUR 2.5 million) acquisition was financed with Hungary´s Funding for Growth Scheme funds.

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