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 […]
The vacancy rate in the domestic commercial real estate market rose in the first half of the year, while the stock of real estate is set to expand. Hybrid working is not good for the market either. The first half of the year saw rising vacancy rates in the office and industrial-logistics markets, while ongoing […]
Not less than three new large-scale R&D projects have been announced by Continental to further strengthen its Hungarian operation. The investments worth EUR 47.6 million promises to create 280 new jobs in total thru 2024, and they are aimed at developing solutions in the realm of autonomous driving and automotive safety. Continental Group is present […]
Two owners of Dreher Breweries, Asahi Group Holdings and Asahi Europe & International, are launching a HUF 100 billion investment in the company, which will serve the company's ambitious heritage and sustainability goals in the next decade, in addition to increasing capacity and efficiency, the company told MTI on Thursday. According to the statement, the […]
