German Company Opens Central Hub in Budapest

KOSTAL Group, a German family-owned company, opened its new sustainable flagship office in the Hungarian capital, bringing a new way of working into the KOSTAL Family, the Hungarian Investment Promotion Agency (HIPA) reports. The company's EUR three million training program was supported by the Hungarian state with EUR 1.56 million through HIPA.

The new business services center will be the hub of the company's overall operations and global sustainability efforts, which is also reflected in the design of the office.

The family-owned multinational German company, mainly known as an automotive supplier, with a presence in 21 countries on four continents, that always focused on technological innovation decided to open a new chapter of its business by investing in the innovation of internal structures and processes. As a result, the new central hub for global business services has opened its doors for the latest members of the KOSTAL Group.

“In order to be able to continue to focus on technology and customer orientation, the bundling of parts of our administrative activities is a necessary and logical step. In our view, Budapest with its large number of highly qualified employees is the best location for our shared business services, the CEO of KOSTAL Group, Andreas Kostal stated in his speech during the formal office opening ceremony.

According to HIPA CEO, István Joó, “our country has become a leading global BSC hub in the CEE region, and everything points in the direction that she can remain an attractive investment target. For we are confident that we would be able to attract and retain talent and keep up the inflow of investments.” The Hungarian Investment Promotion Agency alone guided 103 related projects creating over 19,000 jobs from 2014 to 2022.

The Managing Director of KOSTAL Global Business Services (KBS), Péter Csucska emphasized regarding the office culture that the KOSTAL Business Services Center is not merely an office and is not even a location. “It is a way of working. In our office, the work is fully flexible. No one is forced to come to the office for whatever number of days per week – unless they want to.”

He underlined that they have hired some of the best professionals available in the country and intend to use their experience, and all the best practices the BSC industry created in the last 20 or so years. Here in Budapest, the plan is to exceed 300 employees by the end of 2024.