The Hungarian electronics manufacturing firm Videoton Holding has signed an agreement with the owners of Limtronik GmbH, under which Limtronik GmbH, which employs 150 people in Limburg near Frankfurt, and Limtronik USA in Denver have become members of the Hungarian-owned group of companies. According to Videoton Holding's announcement on Tuesday, the new member companies are […]
The Hungarian market for new electric passenger cars (EVs) is not expected to see the same dynamic growth this year as last year, while the segment's share of total sales, at around 7%, continues to lag behind the European average. However, EVs could account for 12-13% of KIA's sales, according to Norbert Nagy, president of […]
Following the establishment of its Hungarian subsidiary in 2021, Tulip Interfaces is expanding its Budapest hub with a new R&D project, the Hungarian Investment Promotion Agency (HIPA) reports. The American manufacturing technology company’s local team will grow by 26 engineers as a result of the investment, whose task will be to support the development of […]
American industrial automation giant Emerson is expanding its operations in Hungary through new smart investments that create high value-added jobs, while also joining the Government’s community of strategic cooperation partners. Emerson is set to invest EUR 6.2 million and create over fifty new jobs in two projects with the support of the Hungarian Investment Promotion […]
A HUF four billion development project has been launched at the Budapest site of 77 Elektronika Ltd. The medical diagnostics equipment manufacturer is relocating its entire Budapest production capacity to a single site and, at the same time, is implementing significant technological upgrades, the company told MTI on Wednesday. The 100% Hungarian-owned company is financing […]
The AutoWallis Group increased its vehicle sales by 3.4% in the first half of the year, mainly due to previously completed acquisitions in the Czech Republic, the company told MTI on Tuesday. According to the information provided, sales of new cars in the retail business segment increased by 18.8% to 5,849 units, with 1,131 of […]
Over the next two years, Hungary’s leading pasta producer, Gyermelyi Plc. will build and expand several production units. The investment program includes a new, fully automated high-bay warehouse, an expansion of pasta production capacity and packaging development, the Hungarian Investment Promotion Agency (HIPA) reports. With the support of the VIP Cash Subsidy Program, the investment […]
Festipay Plc., founded in Hungary, will provide cashless payment services at the 40th Formula 1 Hungarian Grand Prix, which will be held just west of Budapest on the first weekend of August. The company announced to MTI on Wednesday that it will operate hundreds of contactless terminals throughout the hospitality area, where guests can pay […]
Most of the companies desire and plan technological developments, viewing digitalization as crucial for increasing competitiveness, but the prevalence of automation and Industry 4.0 solutions remains low. that is according to a recent study, commissioned by Siemens Hungary Plc., that surveyed decision-makers of Hungarian small and medium-sized manufacturing enterprises (SMEs) about their development plans. Almost […]
China’s BYD, the world’s largest electric vehicle manufacturer is set to further expand its presence in Hungary by yet another major investment aiming at the production of electric trucks, the Hungarian Investment Promotion Agency (HIPA) reports. The EUR 75.7 million investment will add a 29,000-square-meter facility to BYD’s electric bus factory in Komárom – 90 […]
Zwack Unicum Plc. informed its shareholders on the website of the Budapest Stock Exchange this Wednesday that the personnel changes in the Management of the Company that were projected in the company's announcement of January 21, 2025 –including a change in the position of CEO – have taken place. Chief Executive Officer Frank Odzuck and Deputy Chief […]
The Hungarian subsidiary of German biotech company Verbio, XiMo is set to build its first industrial-scale facility in the country, leveraging its co-founder’s Nobel Prize-winning research in sustainable chemistry, the Hungarian Investment Promotion Agency (HIPA) reports.. The EUR 27.7 million investment launched in Gödöllő – 30 kilometers from the capital Budapest – will further strengthen […]
ALTEO Energy Services Plc. announced on the website of the Budapest Stock Exchange that the closing conditions for the sale and purchase agreement for the acquisition of ÉLTEX Commercial and Transport Ltd. signed on December 20, 2024 by ALTEO Plc. and Global Refuse Holding Plc. have been fulfilled, and that as of this Monday, ALTEO […]
Total gross sales of Zwack Unicum Plc., the biggest player in Hungary’s spirit market, were HUF 38,788 million in the 2024-25 business year – a year-on-year increase of HUF 1,850 million (5.0%). The total gross sales include revenues from the deposit-refund system (DRS), which was introduced in Hungary on January 2024. During the 2024–2025 business […]
Eötvös Loránd University (ELTE) and Bosch Hungary have agreed to continue their cooperation for another five years, opening up new perspectives in the field of AI development in Hungary, the two organizations announced in a joint statement to MTI on Tuesday. They emphasized that their long-term strategic goal is for Hungary's first artificial intelligence industrial […]
