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 […]
China-based NIO automotive manufacturer has chosen Biatorbágy, just southwest of Budapest, as location for its first European manufacturing plant. The implementation of the investment worth a total amount of over EUR 15 million and creating several hundred new jobs will allow the manufacturing of so-called 'NIO Power Swap Station' automatic battery pack swap stations in […]
ITL Group Ltd. was established in 1995, its founder, Alessandro Farina moved to Hungary three years before. Now, he tells Diplomacy&Trade about how his career began here and how he built up a group of companies following the tradition of entrepreneurship that goes back to generations in his family in Italy. He is convinced that […]
This Thursday, Airbus officially inaugurated its new factory in the southeastern Hungarian town of Gyula, which has been certified by the European Aviation Safety Agency (EASA). Airbus is one of Europe's leading defense companies, and the Hungarian state is a 30% shareholder in Airbus Helicopters Hungary Ltd., which was founded two years ago, the Hungarian […]
Unindustria Ungheria defines itself as a "meeting space for those who recognize Hungary as a place for investment, development and growth of their businesses." As the president of the organization Dr. Roberto Massucco explains to Diplomacy&Trade, their goal is to support the Italian business community, giving value to the associates by organizing meetings, facilitating the […]
Having been operating in Nyírbátor, NE Hungary, for ten years, Diehl Aviation Hungary Ltd. has celebrated the anniversary with yet another development as a production hall worth EUR 6.8 million has been inaugurated that will allow to produce products and parts related to aviation manufacturing. Over 30% of the investment cot is borne by Hungarian […]
In the second quarter of 2022, two new office buildings were delivered to the Budapest office market with the total of 30,750 sqm, the new owner-occupied OTP HQ building with a size of 28,000 sqm and Paulay 52 with the size of 2,750 sqm, the Budapest Research Forum Q2 2022 office market summary reports. The […]
An investment of over EUR one billion is set to propel Mercedes-Benz forward in the global electrification race as the German car manufacturer intends to install new assembly and body shop production lines at its Kecskemét plant, the Hungarian Investment Promotion Agency reports. The development that is meant to maintain 4,500 jobs and create a […]
The Electrical Insulation and Plastic Factory (VSZM) Ltd., a company specializing in the supply of plastic parts for the mechanical, electrical, construction and automotive industries, has upgraded its production capacity and image, the HUF 695 million investment was recently completed, the Siófok-based company informed the state news agency MTI in a statement. It said that […]
The investment – over one third of which is paid for by Hungarian taxpayers with a non-repayable amount of HUF 5.5 billion through a government decision – took 15 months to complete and will create 50 new jobs while maintaining the existing 600 jobs. The factory in Dunaföldvár, south of Budapest, was built in 2018 […]
