The Hungarian pharmaceutical company Gedeon Richter Plc. has announced on the website of the Budapest Stock Exchange that it has submitted an offer and entered into negotiations to acquire certain assets from Mithra Pharmaceuticals SA. In the statement, Richter confirms that it has participated in the monetisation process of Mithra, which was publicly initiated by […]
OTP Bank surpassed all its previous results last year, and will continue the construction and expansion in the coming years, Sándor Csányi, Chairman and CEO of OTP Bank, said at the company's Annual General Meeting in Budapest on Friday. The CEO stressed that the company is the market leader in five countries and has a […]
The tobacco factory BAT Pécsi Dohánygyár Ltd. invests EUR 150.7 million to add substantial capacities at its site in Pécs, S Hungary. The development will create 450 new jobs, according to a report by the Hungarian Investment Promotion Agency (HIPA). British American Tobacco (BAT) has been present in Hungary since 1992, in three locations in […]
Financial leaders in Central Europe are significantly more optimistic about 2023, with an improvement in the business environment in particular, but also a positive shift in other areas, according to a survey published by Deloitte on Tuesday. In a survey summarizing the views of Central European finance executives, Deloitte asked more than five hundred regional […]
The investment of the telecommunications company Optiwella was opened on Monday in the south-eastern Hungarian city of Szeged. The HUF 860 million development has created a new generation of service and production capacity in the plant, which processes and refurbishes a variety of devices, and was needed to improve international competitiveness. The project was supported […]
The Hungarian automotive company Autóflex-Knott Ltd. has completed an HUF 800 million development to increase its market share in the US and Europe. Hungarian taxpayers, thanks to a government decision, have provided HUF 400 million for the purchase of machinery to machine higher-performance parts. A solar panel system was also recently installed on site, enabling […]
The foundation stone of the new production hall of the composite aircraft manufacturer Magnus Aircraft Plc. was laid on Friday. The facility will be built in Pogány, in the south of Hungary, as part of the company's HUF 6 billion development project. Speaking at the ceremony, Finance Minister Mihály Varga said the company's two-seat aircraft […]
Human values in the economy and social innovations at companies were the main topics discussed at the latest Business Breakfast and Professional Forum by the Business Council for Sustainable Development in Hungary (BCSDH) held this Tuesday at one of the locations of the National Bank of Hungary in Budapest. A third of the world's workforce […]
German-owned SCHEDL Hungária Ltd., a company specializing in the assembly and in-sequence delivery of complete wheels, invests EUR 101.1 million to open new production facilities in two Hungarian cities, Debrecen and Kecskemét, the Hungarian Investment Promotion Agency (HIPA) reports. The greenfield investment, about 5% of which is to be covered by Hungarian taxpayers as state […]
Audi Hungaria Plc.'s sales revenue increased by 7.9% last year compared to 2022, it was announced on Tuesday in Győr at a press conference presenting the results. Last year, the company achieved sales revenue of EUR 9.102 billion (HUF 3,602.4 billion), which is EUR 666 million (HUF 263.6 billion) more than in the previous year. […]
A major development has been introduced at the Michelin plant in Nyíregyháza, NE Hungary. The sports car tire factory is modernizing its curing equipment by replacing the existing steam presses with electric ones, and thereby reducing its energy consumption. Curing (or vulcanization) is the final stage in the tire manufacturing process, during which the tires […]
Bayer Construct Plc. is to build a factory in Sóskút, southwest of Budapest, where it will operate a bathroom assembly plant, as part of a new HUF 15 billion investment, according to a statement by the Ministry of Foreign Affairs and Trade. The project, which promises to create 100 new jobs, will be subsidized by […]
Based on the outlook of the Hungarian new car market, Ádám Rozgonyi, brand director of importer Porsche Hungaria SEAT, expects stagnation and a repeat of the 2023 volume in the sales of the SEAT and CUPRA brands this year. Last year, 2,761 units of the Volkswagen group's two brands were sold in Hungary, an increase […]
Gedeon Richter Plc. has announced on the website of the Budapest Stock Exchange that it has signed an agreement with HELM AG, a Germany-based stock corporation (“HELM”) to buy 50% stake in Richter-Helm BioTec GmbH & Co. KG (“RHT”); and 30% stake in Richter-Helm BioLogics GmbH & Co. KG. (“RHB”) to become 100% owner of […]
The energy company ALTEO achieved outstanding results in 2023, as a proof its strategy was updated at the beginning of 2022 and its implementation are successful and effective, where environmental and social sustainability plays a key role in addition to business considerations, the company has announced on the website of the Budapest Stock Exchange. The […]
