The foundation stone has been laid for the newest production plant of Pannon Növényolajgyártó, a member of the Glencore Agriculture Group in Foktő, south-central Hungary. The crushing facility, which was opened in 2012 will now be enlarged with a unit for further refining through this investment of EUR 66.3 million. Products will leave the plant […]
As a sign of further development, Sika Hungária, the local subsidiary of Sika AG, the Swiss chemical company of building supplies, has moved to a larger site in Biatorbágy, just outside Budapest. As General Manager András Berecz tells Diplomacy&Trade, the company is constantly introducing new products and solutions to keep ahead of competition, increasing their […]
This year, Stadler Trains Hungary Ltd. celebrates its 15th anniversary. The company’s Country Manager, Zoltán Dunai tells Diplomacy&Trade about the company’s successful one and a half decades in this country since contracting with MÁV Hungarian State Railways to supply FLIRT trains in 2005. “The past 15 years were very exciting for us, nobody would have […]
Within the framework of its investment of EUR 32.1 million, the South Korea-based company Dongwha is building already two units in Sóskút, NW of Budapest: one for producing electrolyte and another to recycle the solvent NMP. Both activities are closely linked to the EV (electric vehicle) battery manufacturing value chain, creating an additional 90 jobs, […]
Nestlé cared for not only its employees’ health during the emergency situation caused by the new coronavirus pandemic but also for their financial security. The financial indicators of the first six months show that steps taken to support company employees and those in need were clearly successful from an economic viewpoint as well. Nestlé Hungária […]
In the first half 2020, both the revenue and net after-tax profit increased significantly at the Hungarian energy company ALTEO Group. The 33% increase in sales revenue was accompanied by a 120% rise in after-tax profit. A report by the Group says the growth achieved not only reflects the success in investment and acquisition activities, […]
Ten years ago this year, Givaudan, the world's largest company in the flavor and fragrance segment, announced it would build a factory in Makó, SE Hungary, creating hundreds of jobs. Head of Operations and Company Manager Mihály Karkas talks to Diplomacy&Trade about the operations and achievements of this Givaudan plant. “This important investment project contributes […]
The size of Hungarian hop plantations may increase by another twenty hectares due to the fact that - following the subsidies of previous years - the Ministry of Agriculture will launch another support program this year with a budget of HUF 150 million to support the domestic production of beer. In Kastélyosdomb, W Hungary the […]
Eisberg Hungary joined Sportfive Hungary Ltd. and the Ferencváros sports club FTC in the initiative "We cook for heroes!" In addition to their free lunches, created by master chef András Wolf in the kitchen of the FTC stadium Groupama Arena, 150 hospital workers received fresh salads daily. Employees of the Szent László Hospital received a […]
The bigger than expected decline in Hungary’s economic output has dealt a significant blow to the government’s budget plan for 2020. As a result of the weak GDP data in the second quarter and further restrictive measures made necessary by the second wave of the epidemic, the Finance Ministry was forced to revise its budget […]
The Swiss-Hungarian Chamber of Commerce ‘Swisscham Hungary’ was founded in 1995. The leaders of the organization, President Dr. István Béres and Managing Director Júlia Lipovecz had a different jubilee year in mind for 2020. They tell Diplomacy&Trade what they planned, what they could do and what they have postponed due to the pandemic situation. “We […]
Nilfisk, a leading global manufacturer of cleaning machines for professionals and consumers, is expanding its footprint and investment in Hungary with the establishment of a new joint IT innovation & HR Services hub in Budapest. Nilfisk has been present in Hungary for more than 20 years with assembly facilities in Szigetszentmiklós and Nagykanizsa. The new […]
A three-year price record for the shares of the Hungarian pharmaceutical company Gedeon Richter was broken on Monday: the price rose above HUF 7,300 at the Budapest Stock Exchange. The company is one of the winners of the coronavirus epidemic, it is helped by the weakening of the Hungarian currency, and its sales are not […]
Ariston Thermo Group, which manufactures and sells thermal engineering products, achieved record revenue of EUR 1.71 billion in the 2019 fiscal year, up 6.1% from 2018, the company told the Hungarian news agency MTI. 72% of the group’s revenue last year came from renewable and high-efficiency solutions. Paolo Merloni, Chairman of the Board of Ariston […]
The sales revenue in the first half of 2020 of ANY Printing Company Plc. was HUF 13 billion. Exports reached HUF 5.7 billion, which represents a 44% ratio. In the first half of 2020, ANY’s sales revenue is HUF 13 billion, which is 19% lower than in the same period last year. Export sales is […]
