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 […]
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 […]
