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Daimler announces 463.3 million pounds investment in Hungary plant

Reuters
The Daimler logo is seen at the annual shareholder meeting in Berlin April 1, 2015. REUTERS/Hannibal Hanschke

BUDAPEST (Reuters) - Daimler AG (DAIGn.DE) will spend 185 billion forints (463.3 million pounds) at its Mercedes car plant in Hungary on Friday, including about 80 billion forints for a new bodywork unit which it flagged last month.

Mercedes, which had invested just over a billion euros in its factory in the central town of Kecskemet by the end of 2015, said in a statement on Friday the additional funds would finance technological upgrades and increase production capacity.

The company said it planned to implement the new investment by 2018.

(Reporting by Gergely Szakacs; editing by David Clarke)