Suzuki Motor's production plant in Hungary will suspend output this week of its Vitara and S-CROSS models, the Reuters news agency quoted a company statement on Monday. The production halt between January 15 and 21 comes after automakers Tesla and announced suspensions in Europe in the second half of last week, in a sign that […]

The construction industry faced a number of challenges in 2023, but market expectations suggest that even this year will not be a boom year, according to an analysis by financial portal portfolio.hu. Last year, only a third of construction companies managed to increase their turnover compared to the previous year. Nearly half of the companies […]

Veolia Group companies in Hungary and Poland have acquired a 53% majority stake in THERMOWATT Energetikai és Építőipari Ltd., a company developing an innovative technology for the recovery of thermal energy from wastewater, the group said. The statement also revealed that a further 46% stake was acquired by GloCap I Economic Development Private Equity Fund, […]

Vajda-Papír Ltd. has acquired a majority stake in Vajda-Papír Scandinavia AS, a Norwegian company that has been part of the Vajda-Papír Group for more than ten years, Attila Vajda, Managing Director of Vajda-Papír Ltd., told MTI. He justified the transaction on the basis of economic considerations, improving efficiency and the creation of a large corporate […]

The world’s leading manufacturer of electric and plug-in hybrid cars, BYD, is planning to make a historic investment in Szeged, SE Hungary. The Chinese company aims to develop its first European electric vehicle manufacturing plant on a ca. 300-hectare site in Hungary. Due to the investment, thousands of high-added value jobs will be created, and […]

RÁBA Automotive Holding Plc. informed the participants of capital markets on the website of the Budapest Stock Exchange this Monday that "on October 31, 2023, it published an extraordinary announcement that on October 31, 2023, a Memorandum of Understanding was signed by RÁBA Plc., N7 Holding Zrt., an internationally significant Turkish defence company, Nurol Makina […]

UniCredit CEO Andrea Orcel has confirmed that the Italian banking group is interested in acquisition opportunities, especially in Central and Eastern Europe, but will continue to take a disciplined approach, the financial portal portfolio.hu quotes Reuters news agency as saying. In an interview with the Frankfurter Allgemeine Zeitung (FAZ), Orcel said that “we are likely […]

HelloParks has handed over four new buildings covering 174,000 square meters this year, leasing more than 150,000 square meters of warehouse space in its warehouses in 2023, the industrial property developer, which is part of the Futureal Group, told MTI. Among the new buildings that have been handed over, MG3 is located in Maglód, FT6 […]

Leading Korean automotive thermal solution supplier Hanon Systems invests EUR 117 million to develop three of its sites in Hungary in Székesfehérvár, Pécs and Rétság. The projects promises to create 250 new jobs, whilst a large scale training program is also in the pipeline. Hanon Systems is one the only two full-line automotive thermal solution […]

Germany-based technology group ZF invests EUR 62.5 million to implement two large-scale projects in Debrecen and Kecskemét, two automotive strongholds in Hungary. The investments that promise to create 313 new jobs are set to provide capacities to manufacture auto parts in the EV segment. Global technology group ZF is expanding its operations by setting up […]

The recently appointed Managing Director of Porsche Hungaria (PH), Tamás Wachtler expects an increase in sales of its brands next year. This, he says, will further strengthen the company's share of the Hungarian new car market, which already exceeds 20%. At a press conference in Budapest on Thursday, Tamás Wachtler said that this is partly […]

The managers of German companies operating in Hungary are more pessimistic than recent economic indicators would justify - this was the title of a survey presented by the German-Hungarian Chamber of Industry and Commerce, hvg.hu reports. The survey revealed that business leaders put the vision of the Hungarian economy at -40 on a scale of […]

Japanese-owned TDK Hungary Components Ltd. installs a new solar and heat pump system in the value of HUF 3.4 billion, which essentially enables the company to disconnect from the natural gas grid. The investment will be implemented from the company’s own funds and the incentives available under the Hungarian government’s Factory Rescue Program. TDK Hungary […]

The joint venture between LG of South Korea and Magna of Canada is building its first European factory in Miskolc., MTI reports. The HUF 20 billion investment - over 30% of which is covered by Hungarian taxpayers in the form of non-refundable state subsidy - is expected to create more than 200 new jobs in […]

Thanks to a EUR 59.6 million investment BorgWarner takes its Hungarian operation to the next level in Oroszlány, Hungary. The American automotive supplier will add new products to its portfolio to serve demand in the hybrid and electric drivetrain segment. According to a government decision, Hungarian taxpayers cover over a fifth of the investment costs […]