Hungary’s leading innovative pharmaceutical company, Novartis has been present in this country since the early nineties. The head of the local subsidiary, Novartis Hungary Ltd., Colette Matz tells Diplomacy&Trade about the company’s activities on the Hungarian market with special regard to the company’s contribution to Hungarian healthcare. The General Manager states that Novartis is proud […]
STOBAG Group, a leading Swiss manufacturer of sun protection systems, is build-ing its largest production facility in Hungary through a capacity expansion investment supported by the Hungarian Investment Promotion Agency (HIPA). As a result of the EUR 21.5 million development, the company’s factory in Sülysáp, southeast of Budapest – in operation for ten years – […]
Hungary’s Bonafarm Group signed an agreement to acquire Friesland Romania S.A., the Romanian subsidiary of Dutch multinational dairy company Royal FrieslandCampina, the company told MTI on Thursday. The transaction is expected to be completed at the end of the year, following competition law and regulatory approvals. No information was provided on the expected value of […]
The most important task of the Hungarian Investment Promotion Agency (HIPA) is to provide professional assistance to foreign and Hungarian companies wishing to invest in Hungary. In 2024, with the help of HIPA, foreign investors decided to launch 77 projects in Hungary, which is estimated to bring more than EUR 10 billion in fresh capital […]
Building on more than 150 years of industrial tradition, Hungarian-owned Ganz is launching a major capacity expansion at its Tápiószele plant. Supported by the government’s '150 New Factories Program',the EUR 50.4 million investment will not only double the company’s production volume, but also create 300 new jobs in the region. The development further strengthens Ganz’s […]
In compliance with its obligation of extraordinary disclosure of information according to the relevant regulations, the Hungarian energy services provider ALTEO has announced on the website of the Budapest Stock Exchange that the closing preconditions of the sale and purchase contract for the acquisition of ÉLTEX Trade and Shipment Ltd., signed on December 20, 2024 […]
Plant modernization, increased efficiency, the full utilization of existing capacity, flexible adaptation to future demands and the achievement of carbon-neutral operations are at the center of the plant developments that were inaugurated at Magyar Suzuki Plc.’s Esztergom site. The latest project of the Japanese company, which regularly reinvests in Hungary, is valued at nearly EUR […]
The University of Szeged (SZTE), located in SE Hungarian city of Szeged, signed a cooperation agreement with ContiTech Fluid Automotive Hungária Ltd. and ContiTech Rubber Industrial Ltd. this Monday. The aim of the cooperation is for the participants to mutually assist each other in their innovation and education activities, as well as to launch joint […]
The Swiss-Hungarian Chamber of Commerce (Swisscham Hungary) was founded in 1995 to provide a platform for economic and commercial cooperation between the two countries. Over the past three decades, the trust and expertise of its members and its steadily growing membership have made the Chamber an important player in business life. On the 30th anniversary, […]
French-owned Hungarian pharmaceutical company Egis Gyógyszergyár Plc. is set to implement another large-scale investment to boost efficiency and capacity at its base in Körmend, the Hungarian Investment Promotion Agency (HIPA) reports. The EUR 37.5 million investment include the modernisation of the a tableting plant and the galenic plant, and the extension of the storage facility […]
The new production facility of J-STAR MOTION, a furniture component manufacturer, was officially inaugurated in Kaposvár. In addition to setting up a manufacturing center, the Chinese company specializing in intelligent motion and control solutions has also established a new logistics hub in the seat of Somogy County. The EUR 60 million greenfield investment, close to […]
ALTEO-Therm Ltd. has successfully completed a HUF 434 million investment project to replace the former 3.2 MW Wärtsilä 220 SG gas engine at its Tiszaújváros site with a modern, refurbished Jenbacher J620 model. As part of the project, not only was the gas engine replaced, but the mechanical, electrical and control systems of the auxiliary […]
In the second quarter of 2025, the construction industry environment showed signs of mild recovery in certain segments, which is an encouraging sign for the future. However, on the markets relevant to Masterplast, no significant increase in demand was observed yet, most of the growth expected in the next quarter. As a result, the company’s […]
Chinese car manufacturer BYD says it has long-term plans for Europe, and construction of its Hungarian factory is proceeding according to plan, despite press reports to the contrary. According to the information provided by BYD Hungary to MTI on Wednesday, production is scheduled to start at the end of the year, and cars will soon […]
The Abu Dhabi Securities Exchange (ADX), one of the fastest-growing and leading exchanges in the Middle East, and the Budapest Stock Exchange (BSE), the second largest exchange in Central and Eastern Europe, signed a Memorandum of Understanding (MOU) to collaborate on a number of key initiatives, BSE announced in a press release. The MOU sets […]
