Hydro Extrusion Hungary Ltd. is continuing its automotive investments in Hungary and is increasing the extrusion capacity of its Székesfehérvár plant, SW of Budapest, with a EUR 35.7 million (HUF 14.6 billion) development, the company informed the state news agency MTI on Thursday. The company said the development will ensure the company's future growth potential […]
RAVAK has now been around for more than three decades and has managed to build up the largest bathroom furnishing manufacturer in the Czech Republic. István Pintér, Head of Marketing at RAVAK Hungary Ltd. tells Diplomacy&Trade, among other things, about the main milestones in the company's development and expansion and the newly built premises created […]
The main objective of the Cseh-Magyar Üzleti Klub (Czech-Hungarian Business Club), established in 2004, is to develop bilateral business relations and promote cooperation between Czech and Hungarian businesses. In addition, the Club aims to create a forum for its members – be they companies or individuals – to deepen their cultural and human ties in […]
As a result of an investment of some EUR 45 million, Nissin Foods substantially ramps up its manufacturing and logistics capacities at its Kecskemét site. Storage space and production volume of the Japanese instant noodle producer will be increased and 50 new jobs will be created. About 7% of the investment cost are covered by […]
CzechTrade is the state export promotion agency of the Ministry of Industry and Trade of the Czech Republic. Its aim is to develop international trade and cooperation between Czech and foreign companies. The Director the agency’s Budapest office, Dóra Egressy tells Diplomacy&Trade about the scope of their activities in Czech-Hungarian business relations. As the Director […]
Grand Tokaj, the most important wine producer in the Tokaj-Hegyalja wine region, expects an increase in turnover in the run-up to the holidays and stable profits in the longer term. The company's CEO, László Rábai told the state news agency MTI that by the end of December, revenue could reach or even exceed HUF 3 […]
Runaway inflation, rising energy prices and changing audience habits are posing extreme challenges for cinemas, including Cinema City. However, the country's biggest cinema chain has no plans to cut the number of screenings, but expects overheads to rise further after January, the business news site napi.hu reports. There are currently no plans to raise prices […]
Following the finalization of their contract with the Hungarian oil and gas company Mol, the Polish Orlen Group has entered the Hungarian fuel market and will operate a total of 143 domestic service stations, the company said in a statement. 79 of the stations are already owned by Orlen, but for the time being they […]
Duna House Group closed the third quarter (Q3) 2022 with 120% year-on-year growth in revenues to HUF 8.4 billion and 60% increase in EBITDA to HUF 904 million, the Group has announced on the website of the Budapest Stock Exchange. Following the strong results of Q2 2022, the Group`s core profit lines have declined from […]
A unit to assemble high-voltage batteries for the fully electric model generation NEUE KLASSE is added to BMW Group's plant in Debrecen of which construction was launched six months ago, the Hungarian Investment Promotion Agency reports. The total investment volume of the entire Debrecen project is thus set to exceed EUR 2 billion, and more […]
The new factory building of Chemark Plc., a pesticide manufacturer, was inaugurated this Friday in the Peremarton Industrial Park. About a quarter of the investment is paid for by Hungarian taxpayers through a government decision. The EUR 13 million development will increase production capacity by 10 million liters per year, bringing Chemark Plc. to 65-67 […]
Biolab Diagnostic Laboratory Plc. was awarded HUF 502.48 million in EU grant in October under the Széchenyi Plan Plus program, which will help it move towards robot-driven manufacturing, the company told the state news agency MTI. The whole investment that will cost more than HUF one billion will see the construction of a production hall, […]
The Hungarian oil and gas company MOL has discovered a significant amount of oil at a depth of 2,100 meters near Vecsés, just south of Budapest. MOL started exploratory drilling in the area in July, and after carrying out the necessary tests, it proved that it had discovered a previously unknown oil field, the company […]
Continental Tobacco Ltd. has completed a capacity expansion project worth HUF 9.2 billion in Sátoraljaújhely, NE Hungary. Some 40% of the costs have been borne by Hungarian taxpayers as HUF 3.6 billion comes in funding from the state. At the handover ceremony, Finance Minister Mihály Varga recalled that the Sátoraljaújhely-based company is present in 30 […]
Following a tender offer procedure that closed on Friday, Waberer's International's two main shareholders, MHB Optimum Plc. and High Yield Vagyonkezelő [Property Management] Plc., have acquired 8.4% of the transport company Waberer's shares, Waberer's announced on the Budapest Stock Exchange's website. The Offerors are obliged to carry out the financial settlement in respect of the […]
