As part of the EUR 23.1 million investment by the MAB Group — one of Hungary’s largest privately owned mining and construction materials companies — a rock wool insulation manufacturing plant will be built with a maximum production capacity of up to 50,000 tons. The project in Heves County by MAB Insulations Ltd., part of […]
Thanks to the new technology applied at the Székesfehérvár plant of the American company Howmet, which provides advanced engineering solutions globally for the aerospace and transportation industries, production capacity will increase by 50%. The company's EUR 44.9 million investment inaugurated this week promises the creation of 80 new jobs in the region, according to a […]
Audio electronics specialist Harman International is set to start a series of investments in Hungary, according to a report by the Hungarian Investment Promotion Agency (HIPA). The global leader in premium automotive audio and infotainment systems is launching three projects with the support of HIPA. With a total value of EUR 131.18 million, the investment […]
Turnover in the Hungarian media and communications market grew by 6.2% last year to reach HUF 758.7 billion, but in real terms it still lags 4.5% behind the 2019 level, Péter Novák, president of the Hungarian Advertising Association (MRSZ), said at the sector’s annual review conference in Budapest. The sector grew despite the country’s near-stagnant […]
Pál Simák will be replaced by Luigi Fuzio as chairman and CEO of CIB Bank once the necessary regulatory approvals have been obtained, the bank announced to MTI on Tuesday. Pál Simák has been appointed to a new international role at the group’s Milan headquarters, where he will lead the so-called Next Gen Acquisition Machine […]
Electronics manufacturer Flextronics will invest around HUF 35.5 billion to expand capacity at its base in Zalaegerszeg (SW Hungary), it was announced this Monday. A statement from the Ministry of Foreign Affairs and Trade points out that this investment is the fourth by an American-owned company in Hungary in a week. It was added that […]
This Monday, the Körmend site (in W Hungary) of Egis Pharmaceutical was visited by the Minister of Foreign Affairs and Trade, Péter Szijjártó and the CEO of the Hungarian Investment Promotion Agency (HIPA) István Joó, the company reports on its website. CEO Csaba Poroszlai and Plant Director László Sabáli reviewed, on behalf of the company, […]
US automotive supplier BorgWarner inaugurated a HUF 24 billion development at its base in Oroszlány (west of Budapest) this week. The investment, which is expected to raise headcount at the base to around 1,000, is supported by a HUF 4.8 billion government grant, according to a statement by the Ministry of Foreign Affairs and Trade. […]
Hungarian industrial automation and process control specialist Controlsoft AutomatikaLtd. is set to establish a regional service center in Veszprém, W Hungary, the Hungarian Investment Promotion Agency (HIPA) reports. Controlsoft will build a development center and a test facility on an 11,000-square-meter site in Veszprém, equipped with solar panels and a heat pump system. Supported by […]
US-owned pharmaceutical company Viatris Komárom-Mylan Hungary will invest over EUR 16 million at its base in Komárom (northwest of Budapest), expanding packaging and quality control capacity. Mylan Hungary Ltd., part of the American Viatris group, is one of the key centers in the European packaging and quality control network. At its Komárom site, the company […]
The investment that also includes sustainability elements aims to strengthen Herendi Porcelain Manufactory Plc.'s international position. One of Hungary's most well-known and prestigious brands is Herendi Porcelain Manufactory Plc. which has been crafting handmade porcelain decorative items since 1826. Its products are available in more than 60 countries, with its main markets being Europe, Asia […]
German material handling and crane technology specialist Sennebogen is further expanding its production capacity in Hungary. Supported by the HIPA Hungarian Investment Promotion Agency, the EUR 5 million investment in the Bavarian firm’ second Hungarian site in Litér (Western Hungary) aims at the installation of a robotic welding system, capable of assembling large-scale steel structures […]
Huntsman Corporation Hungary Ltd., headquartered in the United States, has inaugurated its capacity expansion project in Pétfürdő, W Hungary, further strengthening the company’s manufacturing activities and contributing to the creation of around a dozen new jobs, the Hungarian Investment Promotion Agency (HIPA) reports. Founded in 1989, Huntsman Corporation Hungary is primarily engaged in the production […]
The adoption of artificial intelligence (AI) is currently one of the most significant steps in digital transformation for Hungarian companies, but while large corporations are scaling up rapidly, the majority of SMEs are still struggling with a lack of data infrastructure and financing. At the Top Executives Roundtable panel discussion during Portfolio’s AI in Business […]
The Chinese company Zoomlion has reached the first milestone in its Tatabánya investment, according to a report by the Hungarian Investment Promotion Agency (HIPA). Zoomlion, one of the largest construction equipment manufacturers in the world, has more than 30 years of experience and is present in 19 countries across four continents. Its products are not […]
