The official foundation stone-laying ceremony of BMW Group’s new plant in Debrecen has taken place to mark the latest milestone of the investment. Worth over EUR 1 billion and creating 1,000+ jobs, the project is set to implement the three dimensions of the BMW iFactory vision, namely lean, green and digital. BMW Group establishes a […]
AutoWallis Group, present in 14 countries in the region, closed the first quarter with growth that far exceeded the market average and an exceptional improvement in efficiency. The Group’s net earnings increased more than five-fold to HUF 1.9 billion, its EBITDA more than doubled to HUF 3.1 billion, and its revenue increased by 18%. This […]
The Flanders Investment & Trade (FIT) representation office in Budapest has two main missions: assisting Flemish companies in their export activities to Hungary and attracting Hungarian potential investors to Flanders. As the head of the office, Trade & Investment Counsellor Szonja Bender, explains to Diplomacy&Trade, most of the Flemish companies who contact their office are […]
The inauguration of Nissho Hungary Precíziós [‘Precision’] Ltd.’s new plant in Újhartyán, SE of Budapest, is an important milestone for the Japanese-owned company that manufactures secondary processed products made of film and adhesive tape and optical film primarily for automotive electric components. The EUR 10 million investment, 35% of which is covered by Hungarian taxpayers […]
Belgium’s primarily French-speaking region, Wallonia and the (bilingual) Brussels-Capital Region maintain a joint representation office in Budapest, operating under the umbrella of the Belgian Embassy. The AWEX (Wallonia Export & Investment Agency) office, in charge of foreign trade promotion in Hungary and foreign investment attraction to these regions, is headed by Edit Ránky as Trade […]
Leading global automotive supplier KOSTAL Group establishes a new business service center (BSC) in Budapest that will employ up to 360 highly skilled workers. The office facility will support and enable the Group’s existing operations in Europe and across the globe. The company is reported to launch a HUF 1.15 billion training program for future […]
Gum-Tech Ltd., a company based in Cegléd, SE of Budapest, has expanded its capacity with a rubber products production line with an investment of about HUF 340 million, the company told the state news agency MTI. According to the company's statement, the branch was developed with the help of the HUF 170 million EU support […]
Otthon Centrum's (OC) net sales amounted to HUF 6.2 billion in 2021, compared to HUF 4.4 billion a year earlier, the real estate brokerage firm said on the Budapest Stock Exchange's website on Tuesday. Last year, the group achieved a record in both real estate network turnover and loan intermediation, the report said. The company's […]
Continest Technologies Plc. has received a total of HUF 2.4 billion in capital from three domestic venture capital fund managers to support its growth plans. The Székesfehérvár Municipal Fund and Hiventures, a member of the MFB Group, each made a HUF 1-1 billion capital injection to become minority shareholders in the company, which develops and […]
Following the foundation stone-laying of Chervon Auto’s first plant outside China last October, the company is already expanding its production base in Hungary. In the second phase of the investment, they will establish new capacities in value of EUR 49.2 million in Miskolc to manufacture metal castings for electric vehicles which should entail the creation […]
The technology sector remains the most popular investment destination in Hungary in 2021. Meanwhile, an increasing proportion of Hungarian companies are expanding abroad, according to a survey by the financial markets consultancy firm Ernst & Young (EY). In the past year, 132 deals worth a total of USD 4.64 billion were announced in Hungary. The […]
Budapest-based ANY Security Printing Company's turnover was HUF 11.6 billion in the first three months of the year, with HUF 3.8 billion coming from the export market, according to the company's Q1 2022 report. The turnover of ANY Security Printing Company is HUF 11.6 billion in the first quarter of 2022, which is20% higher than […]
Gedeon Richter Plc. and Searchlight Pharma Inc. have announced that Searchlight has assumed all Canadian distribution and promotional activities for Evra®, a transdermal contraceptive patch. This transition, which covers regulatory, distribution and promotional responsibilities in Canada, stems from the acquisition of ex-US rights to the Evra brand by Richter from Janssen Pharmaceutica NV, a wholly-owned […]
Hungary's largest telecommunication operator, Magyar Telekom maintained strong momentum across its business lines, as the Group revenue grew by 8.4% year-on-year in the first quarter of 2022, the company announced on the website of the Budapest Stock Exchange this Wednesday. According to the statement, the revenue growth is owed to continued expansion of the customer […]
The Hungarian real estate development company Graphisoft Park SE increased its profit in the first quarter with almost the same real estate portfolio, according to a statement published on the website of the Budapest Stock Exchange (BSE) on Tuesday. The company's earnings before interest, tax, depreciation and amortization (EBITDA) increased year-on-year from EUR 3.566 million […]
