US contact lens maker CooperVision is to invest 40 million dollars over the next three years in its unit in Gyal, near Budapest, Foreign Minister Peter Szijjarto said on Monday.
The investment will create 400 jobs, he added. CooperVision turned out 625 million contact lenses in Gyal last year, which the investment will double over three years, the minister said. CooperVision exports 99.7 percent of its Hungarian output.
Even with the remaining 0.3 percent, CooperVision is market leader in Hungary, company president Daniel G McBride said. He said the company acquired UK peer Sauflon last year, which had a unit in Gyal, established ten years earlier.