SMR Automotive Mirror Technology Hungary, a Motherson Group company, has announced to implement a EUR 33.3 million investment in Hungary. The Indian automotive supplier’s development aims to expand production and logistics capacities and install automation at four different sites in the country. A statement by the Hungarian Investment Promotion Agency says that Indian-owned Motherson Group […]
TDK Hungary Components Ltd., a subsidiary of the Japanese TDK Corporation inaugurated its new plant in Szombathely. The company's operational scope will now include the production of signal transmitters and sensors, marking the first time these products have been manufactured in Europe. According to the Hungarian Investment Promotion Agency, the EUR 70 million investment will […]
Mol has once again discovered oil in Vecsés in central Hungary, the Hungarian oil and gas company announced on the website of the Budapest Stock Exchange (BSE) on Friday. The company said that another exploration well was drilled in Vecsés to further explore the oil field discovered in 2022. The drilling, which started in January, […]
Mercedes-Benz Manufacturing Hungary Ltd. in Kecskemét, east-central Hungary, continued to increase its revenue in 2023, from almost EUR 4 billion in the previous year to more than EUR 5 billion last year; and its profit before tax also increased, from more than EUR 96 million in 2022 to about EUR 103 million last year, the […]
The new climate-neutral plant will be the French company's fifth factory in Hungary, where it will produce medium-voltage devices for electrical distribution equipment. The investment, worth a total of HUF 31 billion and supported by Hungarian taxpayers through a government decision to the tune of HUF 4 billion, is expected to create five hundred new […]
The Hungarian Association of Executives has held the Manager of the Year Awards for the 29th time and the Manager of the Year Award 2023 has been awarded to Radovan Jelasity, CEO of Erste Bank. The Hungarian Association of Executives awards the prize to an outstanding top manager on the basis of his or her […]
The factory-owned subsidiary, which represents the BMW and MINI brands in Hungary, was founded in spring 2004, the company says in a press release. Over the past twenty years, the company, now operating under the name BMW Group Hungary, has enjoyed almost uninterrupted growth in sales and after-sales service, building a nationwide dealer and service […]
Hell Energy's HUF 80 billion capacity expansion investment in Szikszó, NE Hungary, has been inaugurated, creating 240 new jobs and strengthening the soft drink company's leading position in several countries around the world, according to a statement by the Ministry of Foreign Affairs and Trade. At the handover ceremony of the HUF 80 billion joint […]
Siemens Energy's Budapest plant, which provides a secure livelihood for more than 2,000 people, has expanded its portfolio with the production of gas turbine combustors in the multifunctional center, the Hungarian Investment Promotion Agency (HIPA) reports. The three-part investment program, worth over EUR 60 million, will open a new era for the Hungarian subsidiary and […]
The Hungarian energy company ALTEO reported its 2024 Q1 earnings on this Tuesday 2024. In a nutshell the Company’s EBITDA decreased by 43% compared to a year ago from HUF 7.8 billion to HUF 4.5 billion in the first three months of 2024. The revenue decreased by 26% from HUF 36 billion to HUF 27.7 […]
Almost USD one billion were spent by foreign movie productions in Hungary last year, quadrupling the amount spent in 2018, it was revealed at a panel discussion at the 77th Cannes International Film Festival. After the event held with the participation of producers Ildikó Kemény, Robert Lantos and Mike Goodridge on Friday on the challenges […]
There is no Europe without industry, and there is no Hungary either, and Mol believes that it can only remain strong with a sovereign and competitive industry. That is according to the CEO of the petrochemical Mol Group, Zsolt Hernádi at the inauguration of the Mol Polyol Complex in Tiszaújváros on Tuesday. At the ceremony, […]
With an investment of more than HUF 5 billion, Schaeffler Savaria Ltd., a manufacturer of automotive components, has upgraded its site with a logistics hall with a floor area of 6,200 square meters and an office building with a floor area of 2,200 square meters in Szombathely, the company told MTI. The new facility includes […]
MOL Group delivered USD 382 mn Profit before tax in Q1 2024, amidst continued government takes and turnarounds in Downstream, the unfavorable effect of lower gas prices in Upstream, and continued strong non-fuel dynamics in Consumer Services. MOL Group generated USD 402 mn simplified free cash flow in Q1 2024, 22% lower compared to the […]
OTP Bank has further strengthened its market share and is the market leader in the region in terms of equity, and is ranked first in five countries in terms of net loans, OTP Bank Plc.'s Deputy CEO László Bencsik said at a press conference in Budapest on Friday, assessing the bank's first quarter results. László […]
