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Mapei: Good Results in 2022, Expectations for 2023

D&T
Mar 23, 2023

Mapei Ltd. expects a more than 6% increase in sales this year, Béla Markovich, the managing director of the Hungarian company, which manufactures and distributes building materials, has said at a press conference in Budapest. He has also discussed the results of a survey by the company about finding construction professionals in Hungary. He added […]

Large Companies Expect Less and Less Profit

D&T
Mar 21, 2023

Large companies do not expect sales and profit growth this year. Companies have been expecting declining profits for more than a year, which has now reached a negative record, and the expected change in sales is also negative, according to the K&H large company growth index sent to MTI on Tuesday. On average, companies expect […]

Civita Group Opens Maize Products Plant

D&T
Mar 18, 2023

Family-owned Civita Group Plc. has inaugurated a plant for the production of gluten-free pasta, edible plates and cups, owned by its subsidiary, Agri-Corn Ltd., in Monostorpályi, NE Hungary. The company is one of Europe's largest manufacturers of maize products, processing 40,000 tons of GMO-free maize per year and providing 200 families with stable employment for […]

ALTEO Concludes the Acquisition of Two Companies

D&T
Mar 17, 2023

The Hungarian energy company ALTEO has acquired shares embodying 100% of the share capital of the energetics company Energikum. Energikum holds the stake embodying 99% of the issued capital of Energigas Ltd., which owns a biogas plant in Nagykőrös, SE of Budapest. ALTEO is currently the 1% minority shareholder of Energigas. ALTEO also operates the […]

Schneider Electric To Build New Smart Factory

D&T
Mar 17, 2023

The groundbreaking ceremony this Friday marked the latest phase of Schneider Electric’s EUR 40 million investment in Dunavecse, central Hungary, as a result of which a smart factory will be set up to manufacture medium voltage electrical switchgears. The project will boost supply to state-of-the-art energy management and industry automation solutions, thus can contribute to […]

Audi Hungaria's Revenue and Profit Increased Last Year

D&T
Mar 16, 2023

Sales revenue by Audi Hungaria Plc., a member of the Audi group and the central engine supplier to the Audi and Volkswagen groups, increased by EUR 719 million (HUF 284.4 billion) last year, and its profit after tax by EUR 11 million (HUF 4.352 billion), the company said at its annual press conference at its […]

Consortium to Develop Specialty Food with EU support

D&T
Mar 14, 2023

A consortium led by Sole-Mizo Plc. is developing milk protein-based food and nutritional ingredients for special purposes with EU non-reimbursable funding of HUF 996.44 million. In addition to Sole-Mizo, the consortium leader, Medifood Hungary Innovation Ltd. and the Hungarian Agricultural and Life Sciences University (MATE) are also participating in the project. The recently started research […]

Over 30% Annual Wage Increase at Budapest Airport

D&T
Mar 13, 2023

It is important for Budapest Airport that the employees of the BUD group should be able to count on the company even in difficult economic circumstances, which is why the airport operator increased the salaries of its employees by an average of 13% last March and by 10% in October, in an extraordinary procedure, bringing […]

Rising Overheads: 80% of Companies Struggle to Survive

D&T
Mar 11, 2023

The energy costs of most domestic firms at least tripled last year. The increased charges have forced companies to pass on costs to customers and to invest in energy efficiency, according to a survey of 70 medium and large Hungarian companies by Ernst & Young. Eight out of ten companies saw their energy costs at […]

A Record Year for Industrial and Logistics Properties

D&T
Mar 10, 2023

The Hungarian industrial and logistics real estate market closed a record year in 2022 in terms of rental volumes, new developments and investments in the countryside, the Hungarian Association of Logistics Service Centers (MLSZKSZ) said in a statement. According to their information, last year 482,000 square meters of new industrial and logistics real estate developed […]

UBM Holding Plans to Achieve HUF 350 Billion in Sales

Sándor Laczkó
Mar 9, 2023

Feed producer UBM Holding has set a strategy to reach HUF 350 billion in sales by the end of 2025, based on the fact that the focus of livestock farming will gradually shift from Western Europe to Central and Eastern Europe, thus increasing the demand for quality feeds, the company announced at a press conference […]

A Training Center for the Future

Sándor Laczkó
Mar 7, 2023

Hungary’s largest motor vehicles importer, Porsche Hungaria opened an Innovation and Training Center (ITC), located just outside Budapest, last October. With a huge automotive training and transfer capacity, the center – considered by experts to be an outstanding educational facility on an international level – welcomes technical and sales professionals from all over the country […]

Hydrocarbon Exploration in Üllő Area Looks Promising

D&T
Mar 6, 2023

Hydrocarbon exploration in the Üllő area of the Dány concession area looks promising, Director of Exploration and Production at Mol Hungary, Ádám Homonnay said this Monday at the presentation of a 3D seismic survey in Üllő, just southeast of Budapest. The oil company is exploring for hydrocarbons in an area of about 30 square kilometers […]

Recruitment Agency Moves to ACADEMIA Office Building

D&T
Mar 6, 2023

Hays Hungary Ltd., part of the Hays Plc. group, the world’s leading recruitment company will move to ACADEMIA, and continue to support thousands of employers and jobseekers from one of the most prestigious office buildings with ESG focus in the city center of Budapest from the fall of 2023. A statement by the property agency […]

Capacity Expansion by Optigép with EU Support

D&T
Mar 6, 2023

Agricultural machinery manufacturer Optigép Ltd., based in Békés, SE Hungary, has implemented a capacity expansion project worth more than HUF half a billion, the company's managing director János Patkós told MTI. According to the managing director, the total cost of the investment was HUF 634.25 million, for which HUF 261.15 million in European Union support […]

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