The German family-owned Balluff Group has opened a new development office in Budapest, the third location in Hungary, following Veszprém and Csetény (both southwest of Budapest), where 10 highly skilled jobs will be created, the company told the state news agency MTI. According to the information, Balluff's management decided a year ago to expand its […]
KIA continues to lead the electric vehicle market in Hungary this year, with a 12.3% share of the market, that is, with 321 vehicles sold in the first half of the year, but the market is expected to shrink significantly next year. Norbert Nagy, the South Korean brand's importer in Hungary and president of KIA […]
The turnover of Progress Étteremhálózat [‘Restaurant Network’] Ltd., which operates McDonald's restaurants in Hungary, was HUF 32.25 billion in the first six months of the year, a 38.3% year-on-year increase compared to the first half of last year, the company announced on the Budapest Stock Exchange (BSE) website. According to the half-year balance sheet report, […]
The consolidated sales revenue of the Rába Group in H1 of 2022 amounted to HUF 30.0 billion, which is an increase by 26.6% compared to the figure of HUF 23.7 billion reported for the base period of H1 of 2021. The operating result of the group during the current period amounted to HUF 750 million […]
Tobacco processing has begun in the new preparation hall of Continental Tobacco Plc.'s tobacco factory in Sátoraljaújhely, NE Hungary, marking another milestone in the company's nearly HUF 10 billion investment, the company told the state news agency MTI on Monday. Continental Tobacco started the investment at the beginning of 2021, which includes the construction of […]
Busch-Hungária Ltd. used its full production capacity in June, producing 5,037 tons of castings during the month, the Győr-based company, which is part of the German BPW Group, told the Hungarian state news agency MTI. According to the information, this was the first time that production exceeded 5,000 tons in a month. The company expects […]
Szeged-based Medikémia Plc., a manufacturer of car care products, household products and paint aerosols, is expanding its capacity with an investment of more than HUF 350 million with EU support, the company informed the state news agency MTI. According to the statement, HUF 247 million forints of the costs of the development, which will be […]
Leading market player Contemporary Amperex Technology Co. Ltd. (CATL) will invest EUR 7.34 billion to build a 100 GWh battery plant in Debrecen, E Hungary, the Hungarian Investment Promotion Agency (HIPA) reports. The investment that is to create over 9,000 new jobs will become Hungary’s largest FDI project ever and is set to strengthen the […]
Economic uncertainty is beginning to impact investment activity in Europe’s commercial real estate (CRE) market, as shown by the data recorded for Q2 2022 in the latest Capital Markets Snapshot for Europe, the Middle East and Africa (EMEA) by Colliers. Providing balance, the Q2 assessment also suggests that the forecast of any impacts will vary […]
Having been founded in 1947, Ferrari celebrates its 75th anniversary this year. As the General Manager of Ferrari Budapest, Emanuele Lippi explains to Diplomacy&Trade, Ferrari's history is the history of motor racing. With tradition and innovation combined, the owners of road cars can also enjoy the company’s professionalism. Regarding the historical development over these seven […]
The exclusive distributor of Technogym equipment in Hungary, Risto Junttila confirms to Diplomacy&Trade that his idea is to convey Technogym’s mission message to the Hungarian people and help them to acquire the importance of wellbeing, to spread the word of a healthier life with proper nutrition, regular exercise and a positive mental approach. “Basically, we […]
In the first six months, MOL Group delivered USD 2.179 bn EBITDA while in Q2 the EBITDA reached USD 1.347 bn, an overall strong result considering the volatile, unpredictable and uncertain external environment, according to financial results for Q2 and H1 2022 announced by the Group on the website of the Budapest Stock Exchange. Upstream […]
Reynaers Aluminium is a European developer of aluminum products for the building sector. The company, present in over 40 countries, also provides support for architects, fabricators, project developers, investors and end users. As Country Manager Zoltán Nagy explains to Diplomacy&Trade, the company was founded in Belgium in 1965 and has grown from there. “In Hungary, […]
In the second quarter of this year, the Hungarian pharmaceutical company Gedeon Richter's sales and profit exceeded analysts' expectations: sales increased by 23.7% to HUF 192.9 billion and profit after tax more than doubled to HUF 77.1 billion in April-June compared to the same period last year, the company said on the website of the […]
Pirelli, the multinational tire manufacturer focused on consumer production of tires for cars, motorcycles and bicycles, celebrates an important anniversary this year: the company was founded by Giovanni Battista Pirelli in 1872 – that is, 150 years ago – in Milan, Italy where it still has its headquarters. After its foundation in Milan, the expansion […]
