Chinese-owned Evoring Ltd., a Shuanghuan Driveline company, invests EUR 104.4 million to set up a new plant in Jászfényszaru, E Hungary. The facility now broke ground where gears and shafts for EVs will be produced. The investment, some 18% of which is paid for Hungarian taxpayers, promises to create 450 jobs. Shuanghuan Driveline manufactures gears […]
The 2023 January-September results released by the ANY Security Printing Company Plc. says its net sales for 2023 amounted to HUF 44.0 billion, which is higher by HUF 8.9 billion (25%) than in the previous year. Changes in case of strategic product segments were as follows: sales of security products, solutions were HUF 23.0 billion, […]
Chinese-owned Wasion, one of the leading global energy solution providers is investing over EUR 10.5 million to set up its new production site in Gödöllő, located in Pest county, Hungary, the Hungarian Investment Promotion Agency reports. The R&D and manufacturing base, close to 10% of which is paid for by Hungarian taxpayers through a government […]
Tire manufacturer Hankook's third-quarter revenue and operating profit increased by 1.8% and 106%, respectively, compared to the same period last year, according to a company statement sent to MTI on Wednesday. Hankook supplies tires to about 40 global car brands worldwide through about 250 original equipment supply chains, including Audi, BMW, Mercedes-Benz, Porsche and Tesla. […]
PriceWaterhouseCoopers (PwC) is expanding in Eastern Hungary, the international financial and business consultancy firm is opening an office in Debrecen. PwC Hungary said on Wednesday that the company, which has been present in Hungary for more than 30 years, will help its clients in a number of specialized areas in addition to its three main […]
Businesses are not very optimistic about their prospects, which is also reflected in the fact that they are cutting back on their investment and employment plans, President of the German-Hungarian Chamber of Industry and Commerce (DUIHK), András Sávos, said on Wednesday at the presentation of the body's 2023 fall business survey. In the DUIK's survey, […]
Erste Bank Hungary Plc.'s operating profit increased from HUF 67.4 billion to HUF 150.4 billion in the first nine months of this year compared to the same period last year, the company told MTI on Wednesday. Profit after tax was HUF 89.9 billion, while the bank closed the first nine months of 2022 with a […]
Genesys, one of the world's leading artificial intelligence-based global cloud service providers, has opened a new research and development (R&D) center in Budapest, on a 3,000 square meter site in Eiffel Square, it was announced at a press conference on Thursday. The opening of the new R&D center in Budapest demonstrates Genesys' commitment to the […]
Alteo Group reported a consolidated net profit of HUF 11.3 billion in the first nine months of the year, an increase of 1% compared to the same period last year, the company said on Monday on the website of the Budapest Stock Exchange. Consolidated earnings before interest, tax, depreciation and amortization (consolidated EBITDA) reached HUF […]
The Japanese company Denso has launched the production of inverters in Székesfehérvár, southwest of Budapest, where the EUR 30 million (HUF 11.5 billion) investment will be used to manufacture one of the most important units for electric cars. Jiro Ebihara, former president of Denso Manufacturing Hungary Ltd., said in a video message during the press […]
WLP and RaktárAD, a Belgian-Hungarian-owned company group known for building state of the art warehouses in Europe, launched its third investment in Hungary in Vecsés in 2023. The Canadian-based Magna International Incorporation as a client occupies the largest area in the group's environmentally friendly logistics park. The automotive parts supplier, which is present in almost […]
This Tuesday, at Audi Hungaria's 30th anniversary event, series production of the new generation of electric motors for the Premium Platform Electric (PPE), which will debut in the Audi Q6 e-tron model series, was officially launched. As a result of an investment of EUR 190.2 million, a completely new 15,000-square-meter production area for PPE drives […]
The construction of a new logistics center will conclude a multi-year development series worth around HUF 52 billion at the Bosch plant in Maklár, NE Hungary according to Michael Zink, the managing director of the Maklár plant of Robert Bosch Automotive Steering Ltd., a manufacturer of steering gears for passenger cars and trucks. He added […]
Körber Hungária Ltd. invests EUR 14.4 million to add new equipment to its existing capacities and set up an automated storage facility at its Pécs site. Scheduled to be completed by the end of 2025, the investment also includes the installation of solar panels to cover a substantial portion of the company’s energy needs. 15% […]
The Hungarian Forbes magazine has again compiled this year a list of the 100 most valuable Hungarian-owned companies, with MPF Holding, Docler Holding and Bonafarm Group ranked in the top three. MPF Holding, which is mainly known for its machine parts, industrial components, grinding tools and cooling and heating equipment, was valued at HUF 408.3 […]
