Hungary, Mercedes Benz sign deal for new car plant

BUDAPEST, Hungary (AP) -- Hungary's government and Mercedes Benz have signed an agreement on a new factory in southern Hungary that will make 100,000 compact cars a year beginning in 2012.

The German automaker says its new plant in the city of Kecskemet will require an investment of 800 million euros ($993 million) and create up to 2,500 jobs.

Monday's deal for Mercedes Benz's first factory in Eastern Europe is part of the company's decision to expand its lineup of compact cars, the A and B class models.

Hungary says the factory will benefit the nation's economy.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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