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 […]
The Stellantis car group (formed last year by the merger of Fiat and other car manufacturers) has announced the acquisition of aiMotive, a Hungarian company that develops software for self-driving cars. Under the terms of the agreement between Stellantis and aiMotive, the Hungarian company will become a subsidiary of Stellantis and its founder, László Kishonti, […]
CK EM Solution celebrated the opening of its first Hungarian plant in Heves, Hungary where heat sink glue is produced. The total investment of EUR 10.42 million is implemented in two stages, the first of which provides an annual capacity of 1,000 tons of heat sink glue used for EV battery production. CK EM Solution […]
The implementation of an ambitious development plan thru 2025 is underway at Siemens Energy’s Hungarian operation, an important pillar of which is the erection of a 17,000-square-meter production hall in Budapest that just broke ground. Part of the investment is a training program, and in total 400 new jobs will be created along the way. […]
The Hungarian pharmaceutical firm Gedeon Richter Plc. has announced an important change in the executive management of company on the website of the Budapest Stock Exchange. “The company hereby informs its honorable shareholders that with effect from November 15, 2022 Mr. Erik Bogsch resigns from his position regarding the direct supervision of Commercial, International and […]
