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Gedeon Richter Maintains Strategic Direction

Feb 26, 2021

In its 2020 report to the Budapest Stock Exchange, the Hungarian pharmaceutical company Gedeon Richter Plc. states that the company managed to service its customers on time and in full also into the last quarter of the reported year despite a sharp increase in COVID-19 case numbers in its countries of operation. Additional protective measures […]

Drechsler Palace

The Renaissance of the Drechsler Palace

Feb 25, 2021

Hungarian integrated architecture and building services provider DVM group started the construction works of Drechsler Palace in January 2021 at 25 Andrássy Avenue, Budapest. The building is planned to be unveiled as a hotel in 2022. The monument building also known as the one once housing the Pension Fund of the Hungarian State Railways and […]

Tamási Hús Doubling Production Capacity

Feb 23, 2021

Tamási Hús Ltd., Hungary's top bacon producer, is expanding its production capacity in Tamási, W Hungary, and improving its service infrastructure through a cumulative investment of EUR 42.6 million. The project entails the building of a new plant and warehouse, in addition to the installation of a set of new bacon slicers and roasters, a […]

Successful Crisis Management at Rába

Feb 21, 2021

The Hungarian automotive firm Rába Plc. closed the 2020 business year with a consolidated, group-level sales revenue of HUF 38.7 billion, the company reports. The report highlights that thanks to the measures introduced in the spring, the management successfully handled the crisis and, exceeding the set goal, restored profitable operations on an annual basis, along […]

MOL Group: Solid Performance in 2020

Feb 19, 2021

MOL Group has announced its financial results for 2020 that shows operating earnings without one-off special effects and adjusted by the current cost of supply decreasing but still a bit above USD two billion. Despite the much challenging pandemic and economic crisis, MOL Group generated USD 464 million Clean CCS EBITDA in the fourth quarter, […]

Despite the Pandemic, 2020 was Successful for Nestlé

Feb 18, 2021

In part, it was the outstanding performance of the pet food business that determined the global organic growth of the Nestlé group of companies in 2020. In addition, the 3.6% year-on-year growth was due to the U.S. markets and Nestlé’s health science business. The trading operating profit margin increased by 210 basis points year-on-year to […]

Hungary Becomes Self-Sufficient of Medical Masks

Feb 17, 2021

Vajda Papír has put into operation the modern production lines that will be used to make one million medical masks a day in Dunaföldvár, south of Budapest. The Hungarian government contributed HUF 1.1 billion (close to 80%) to the HUF 1.4 billion investment carried out within the framework of the Health Industry Support Program. The […]

Roche Expands its Budapest BSC portfolio

Feb 15, 2021

Roche expands its Budapest business solutions center portfolio with strategic HR services. The company opens 150 new positions in March, further growth of around 100 roles expected for later in the year. By bringing complex People & Culture (formerly known as Human Resources) positions to Hungary, Roche expands its services & solutions center in Budapest […]

Electric and Hybrid Car Sales Down in Hungary

Feb 14, 2021

The sales of hybrid and electric vehicles fell sharply in Hungary in January, the business news site writes. While in December 2020, the number of environmentally friendly new cars increased by 1,443 vehicles, in January the green license plate granted to such vehicles was installed on 'only' 819 cars in Hungary, the news site […]

Skanska, a Strong Player on the CEE Office Market

Feb 14, 2021

The biggest office developer in Europe sold four buildings for over EUR 265 million, leased over 135,000 sqm, and completed seven buildings in Poland, the Czech Republic, Romania and Hungary. A statement by the company says Skanska retains its strong position on the Central Eastern European real estate market and confirms its business efficiency despite […]

Nolato Hungary headquarters

Nolato to Increase its Production and Storage Area

Feb 13, 2021

With a development cost of EUR 21 million, Nolato Hungary Ltd. that manufactures hygienic and medical products, is to increase its production and storage area in this country by more than 150%. The Hungarian government is to cover about one fifth of the costs of development. While retaining existing jobs, the complex project that also […]

Automation Specialist Balluff Develops in Veszprém

Feb 11, 2021

Balluff-Elektronika Ltd.. specialising in the production of electronic components is to launch a new research and development project at its site in Veszprém, midwestern Hungary, targeting the major regeneration of sensors and network devices for industrial automation. The investment of almost EUR 5.8 million creates new jobs for 30 highly qualified employees, by which the […]

2021: A Return to Office Spaces?

Feb 4, 2021

The pandemic has created a reality that will strengthen the trends which have existed in the industry for years. In 2021, however, developers will prepare a new offer for their customers. It will aim at responding to the hybrid working model that has emerged during the coronavirus pandemic. According to Arkadiusz Rudzki, Executive Vice President […]

Hilti site in Kecskemét_hilti_hu

Hilti Investment at its Kecskemét Site

Feb 2, 2021

With a new investment, Hilti Szerszám Kft. (Hilti Tool Ltd.) will engage in new activities at its site in Kecskemét, SE of Budapest, including the production of manual power tools and the establishment of a logistical system. The investment value amounts to HUF 7.2 billion (over EUR 20.1 million), of which the Hungarian government subsidy […]

Falco Invests to Increase Capacity

Feb 1, 2021

Plywood producer Falco Co. Ltd. invests EUR 25 million to develop numerous production areas at their premise in Szombathely, W Hungary. The development project will conclude in 2024 and it helps in retaining 302 jobs. HUF 1.2 billion of the HUF 8.2 billion investment costs will be covered by the Hungarian government. The company was […]

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