MOL Group delivered USD 714mn Clean CCS EBITDA in Q1 2023 (a 14% decrease compared to Q1 2022), despite regulatory headwinds and decreasing oil and gas prices, the Hungarian oil and gas conglomerate said this Friday morning, announcing its financial results for Q1 2023 on the website of the Budapest Stock Exchange. According to a […]
Up to EUR 50 million will be invested by Magna Metalforming GmbH to set up a new plant in Vecsés, southeast of Budapest, with the aim to produce structural bodywork items. The investment, which enjoys a 20% state support, is set to create 300 new jobs. Canada-based Magna International Inc. is a listed corporation that […]
As a result of the significant decline in the construction market and lower demand, the building insulation materials firm Masterplasts's revenue decreased by 27% compared to base in the first quarter. According to the company report published on the website of the Budapest Stock Exchange, in the sharply competitive market, Materplast was only able sell […]
Chinese battery cell manufacturer EVE Power will build a new production plant in Debrecen by investing more than EUR one billion of which a small portion, some EUR 35 million, will be paid for by Hungarian taxpayers through a government decision. The first such European facility of the company will supply BMW Group’s neighbouring iFactory […]
Innoscitech Ltd.’s new autoclaved aerated concrete plant has been inaugurated in Biharkeresztes, eastern Hungary, as a result of a HUF 14 billion investment, some 40% of which is paid for by Hungarian taxpayers through a government decision. As the Hungarian Investment Promotion Agency reports, the additional substantial production capacities will allow to supply environmentally friendly […]
Facilities managers are optimistic and predict growth in their sector, thanks to the easing of the economic and energy crisis and the ability of national economies to adapt, according to the latest research by the National Association of Facility Management, Building Operation and Maintenance Service Providers (LEO FM). According to the association's release, LEO's quarterly […]
The drip and irrigation pipe production plant of Green Technológia Ltd. was inaugurated on Friday in Lébény, north-west Hungary. It was emphasized at the ceremony that every single plastic product and utensil used in agriculture that is delivered to Green Technológia Ltd. is no longer waste, but a raw material for recycling and can be […]
At the Annual General Meeting of the German-Hungarian Chamber of Industry and Commerce (DUIHK), the 30th since its foundation in 1993, DUIHK members have confirmed András Sávos as President for another two-year term. Prior to the General Assembly, members cast their votes electronically for the election of officers and the amendment of the Statutes, and […]
South Korea-based Sang-A Frontec extends its production capacities at its site in Szada, Pest county. The company is implementing a EUR 25 million investment, of which some 14% is covered by Hungarian taxpayers through a government decision, to ramp up manufacturing of plastic battery parts for its main client, Samsung SDI. The development will create […]
CE Glass Plc. has expanded its thermal insulating glass production capacity at its plant in Szatymaz, on the outskirts of Szeged, SE Hungary, with EU support, and thanks to the development, the energy consumption per product and the reject rate have been reduced, the company informed MTI. According to the statement, HUF 400 million of […]
AIP Labs, a Canadian-Hungarian company pioneering in the use of artificial intelligence in healthcare is moving to the top floor of the ZenGarden office building in Budapest. In 2022, AIP Labs launched its AIPDerm system in cooperation with Semmelweis University. The artificial intelligence-assisted dermatological screening tool was the first in Europe to be integrated into […]
Despite a more uncertain economic environment making things difficult for the real estate sector as well, the residential properties firm Cordia International Plc. has successfully navigated through the obstacles, as evidenced by the many milestones the company has achieved and the figures that show its performance. That is according to the Chairman of the Board […]
Upon the invitation of the Budapest Chamber of Commerce and Industry to the Hungarian capital, a business delegation of high-ranking members of New Jersey State’s politics and business from the United States paid a visit to the headquarters of the Hungarian Investment Promotion Agency (HIPA) followed by an insightful business forum. According to a statement […]
In 2022, with a rental revenue of EUR 15.54 million, the Budapest office complex Graphisoft Park achieved a pro forma net result of EUR 6.02 million, which is more than EUR 400,000 higher than the forecast published last November and 24% higher than our previous year's result. The significantly better result than the forecast is […]
Sales revenue at Mapei Ltd. in the first quarter of this year was HUF 7.2 billion, down 6.6% year-on-year, the company, which manufactures and distributes building materials, told MTI on Thursday. However, the company's export revenues rose by 28% to 169 million forints. The company aims to remain competitive in a changing market environment. To […]
