Ferdinand Gross Hungary Ltd., a German company affiliate, the wholesaler of screws and fasteners, small mounting parts and supplies, has inaugurated its logistics base in the Tatabánya industrial park, west of Budapest.

Hungary bought a 12,000-square-meter plot suitable for the purposes of Budapest's new convention center from a subsidiary of TriGránit, investor Sándor Demján's real estate development company, news site Napi.hu reported.

Samsung SDI Hungary, located in Göd, northeast of Budapest, is closing down. It was was the second-largest local unit in the country that manufactured color picture tubes (CPT), plasma display panels (PDP) and mobile phone displays.

Hungarian oil and gas group MOL has announced that it has successfully closed its previously announced North Sea acquisition, adding that the region was a "very attractive area", the Hungarian financial website, portfolio.hu reports.

“Hungary's primary appeal is its well-trained workforce,” Ferdinando Beccalli-Falco, President and CEO of GE Europe pointed out as his company opened a Global Operations Center in Budapest. The opening was also attended by the Hungarian Prime Minister.

Hungary’s vehicle manufacturing industry produced some EUR 18 bn last year, which amount constitutes 18% of the total Hungarian manufacturing industry output, 10% of Hungary’s GDP and 18% of total Hungarian exports.

Hungary’s IND Group, which has grown from a garage company at the end of the 1990s into a leading innovator in digital channels solutions, has been acquired by Misys, a global giant of financial technology solutions, Mysis announced.

Hungary is represented by producers, processors, traders, research institutions and consultants at the "Fruit Logistica" international exhibition and fair in Berlin, the Hungarian Fruit and Vegetable Interprofessional Organisation (FruitVeB) announced.

BAT Pécsi Dohánygyár Kft., the subsidiary of British American Tobacco (BAT) in Pécs, southern Hungary, has announced that it will establishe a new factory there with an investment of HUF 9 billion (approximately EUR 30 million).

Hungarian automotive group Rába has concluded an agreement with Germany’s Kirchhoff Group, It will supply components for western European passenger cars, generating annual sales revenues of HUF 500 million (EUR 1.66 million).

In 2014 and 2015, all Hungarian state institutions will use Vodafone as their mobile service provider. The net value of the framework contract is HUF 4.5 billion (EUR 15 million), three times higher as Telenor received for the previous two years of services.

Hungary-based TriGranit Management has established a new company in the United Arab Emirates, TGM Consultants (Dubai) FZ LLC, as part of its endeavour to actively pursue new property/facility management and leasing mandates.

The state-owned Hungarian Electricity Works (MVM) plans further rapid expansion after quick growth in recent years, more than doubling its revenue this year from 2010, the Chief Executive Officer of the company Csaba Baji told a press conference.

The Hungarian state struck a deal on buying out Germany utility RWE’s share in Fõgáz, the capital city’s gas distributor. The buyer is the Hungarian Electricity Works (MVM) and the subject of the transaction is RWE’s 49.83% stake in Fõgáz.

Hungary's most powerful supercomputer is scheduled to be operating in Debrecen University, in the eastern part of the country, by the end of 2014. It is another project that will be realized in the country from European Union funds.