German-owned Infineon Technologies celebrated the expansion of its plant in Cegléd, which is Hungary’s biggest semi-conductors manufacturing facility. The EUR 100 million investment that is to create up to 275 jobs allows for the production of high-power semiconductor modules that will be built into the inverters of electric and hybrid vehicles. One fifth of the […]
The professional services and investment management company Colliers has announced that Kata Mazsaroff has been appointed as the new Managing Director for the company in Hungary. Kata worked at Colliers between 2007 and 2020. She established the Occupier Services business line, a pioneering service line in Hungary, which introduced an innovative and integrated workplace advisory […]
Nestlé Hungária's profit fell to HUF 1.483 billion in the first half of the year from HUF 1.975 billion last year, according to a report published on the website of the Budapest Stock Exchange (BSE). The food company's half-year sales increased from HUF 82.9 billion to HUF 103.9 billion, including foreign sales from HUF 17.2 […]
The Hungarian electricity company MVM Plc. closed the first half of this year with a loss of HUF 81.1 billion, compared to a profit after tax of HUF 28.3 billion in the same period last year, according to a consolidated report about the first six months of the year published on the website of the […]
Hungerit Plc. has expanded its production capacity at a cost of around HUF four billion in the past year, the company informed MTI on the occasion of the centenary of the start of industrial poultry processing in Szentes, SE Hungary. According to the statement, the new breading plant was launched in October last year, increasing […]
Following a EUR 10.6 million investment, almost a third of which is covered by Hungarian taxpayers through a government decision, the expansion of Audi Hungaria’s tool plant is now complete, providing a dynamic backdrop to the continuously developing operation of the company in Győr, NW Hungary. As a result, more space of 6,300 square meters […]
The completion of the first phase of LEGO’s latest plant expansion was celebrated in a ceremony at its Nyíregyháza site this Tuesday. About 11% of the investment is covered by Hungarian taxpayers through a government decision. As a result of the project, the company’s production capacities will surge significantly following a EUR 148 million investment. […]
The venture capital and private equity market in Hungary closed the second quarter with an increase in both the amount and the number of investments compared to the same period of previous years, the Hungarian Private Equity and Venture Capital Association (HVCA) told the state news agency MTI on Tuesday. The members of the association […]
The Continental Group opened an Application Development Center in Budapest on Monday with Hungarian state support to develop cutting-edge software solutions for traffic accident prevention. The director of the Continental Group in Hungary, Róbert Keszte says that the acceptance of self-driving technologies in Europe is not yet widespread, and that this must change. Róbert Keszte […]
A solemn bell-ringing ceremony marked the start of trading at the Budapest Stock Exchange (BSE) this Monday – the occasion was the public listing of Naturland Holding. The event was attended by Richárd Végh, CEO of the Budapest Stock Exchange, and Tibor Ásványi, founder of Naturland, among others. With this issue, the company has listed […]
The Minister for Economic Development, Márton Nagy, outlined targeted steps to support the corporate sector threatened by the energy crisis and rising prices at AmCham Hungary's Business Forum in the Gundel restaurant in Budapest this Thursday. The manufacturing sector in Hungary, especially SMEs, are highly exposed to rising energy prices, and the energy intensity could […]
Following the example of a tree planting two years ago, the Swiss-Hungarian Chamber of Commerce (Swisscham Hungary) came up with the idea of another green project: an insect hotel in Népliget park in Budapest in order to provide these small creatures with a safe, reliable place to survive bad weather, find food or even build […]
"The situation of Dunaferr has become untenable", and after the closure of one blast furnace weeks ago, the steel works were forced, on September 16, to close down the other one, which, according to the company, "could have fatal consequences for one of the largest Hungarian industrial companies." The immediate reason for the shutdown, they […]
The first phase of the planned major shutdown of the Danube Refinery in Százhalombatta, south of Budapest, has been completed, Mol has kept to schedule and restarted all plants, thus producing fuel at full capacity again, the company said in a statement. The second phase of maintenance is scheduled to start on October 9. It […]
The Hungarian government has paid 40% of the construction costs of a new HUF five billion cheese factory complex in Szekszárd, Southern Hungary. Tolnatej's new plant will have the capacity to produce 19,000 tons of cheese a year, and the development will secure the company's operations and jobs for the coming period, the Finance Ministry […]
