Hungarian-owned BioTech USA Ltd. establishes a new nutrition bar plant in Szada, east of Budapest, with a EUR 25.2 million investment. As a result of the project to be completed by late 2024, BioTech USA, a leading European food supplement producer plants to create 100 jobs. Nearly a quarter of the investment cost is covered […]
Production volume of SWISS KRONO Ltd., a company specialized for producing OSB (Oriented Strand Board), is projected to more than double thanks to a EUR 6.5 million investment at its site in Vásárosnamény, NE Hungary, that is expected to be completed by September 2023. About 15% of the investment cost is covered by Hungarian taxpayers, […]
Favorable construction demand, raw material supply constraints and price rises characterized the market in 2021, where the Masterplast Group, leveraging its stable supply chain, efficient inventory policy and strong market position, achieved an outstanding result, according to the 2021 annual report by the leading insulation material and construction industry product producer-distributor company in the Central […]
Bürkle Hungary Ltd.’s new machine manufacturing plant was inaugurated in Debrecen, E Hungary as a result of a EUR one million investment that is projected to create 20-30 new jobs. The Germany-based Robert Bürkle Group, a world leading specialist in surface technologies, can now produce on an area of over 5,000 sqm at its Hungarian […]
Tungsram will stop manufacturing traditional lighting products and will lay off 1,600 workers in several phases by the end of the year, the company told the state news agency MTI on Wednesday. According to the statement, the technological change is unavoidable, and the planned redundancies will mostly affect factory workers in all five factories. The […]
Kayakfirst Ltd., a manufacturer of sports equipment for the indoor imitation of kayak-canoe sports, is expanding its capacity with EU and national support in Szeged, SE Hungary the company informed the state news agency MTI. The company has won HUF 209.2 million in conditionally reimbursable subsidies for the HUF 300 million investment, which will be […]
RÁBA Plc. has informed its shareholders and the participants of the capital markets on the website of the Budapest Stock Exchange that based on the preliminary assessment of the unaudited information currently available in the course of the reporting for Q1 of 2022, it is deemed that the quarterly consolidated operating profit of the Rába […]
In addition to the percentage growth, Törley Sparkling Wine Cellar Ltd. had a number of successes last year, the company has announced. Hungaria sparkling wines continued to soar in 2021, with sales of the range exceeding all expectations. As of this month, the company strengthened its management with a new Managing Director. According to a […]
Tutti Food Ltd. has invested about HUF 1.3 billion to increase capacity and material safety, the company based in Rábapatona, NW Hungary has informed the state news agency MTI. The company received HUF 468.07 million in non-refundable EU funding for the development, with the remainder being supplemented by self-financing and loans. The investment increased the […]
Busch-Hungária Ltd. produced about 43,000 tons of heavy vehicle parts last year, which increased the production volume of the iron foundry by 20%. The company based in Győr, NW Hungary, is part of the BPW Group. In a statement to the the state news agency MTI, the Managing Director of Busch-Hungária, Dávid Hegymegi, said that […]
The world-renowned Hungarian company Törley Sparkling Wine Cellar Ltd. celebrates its 140th anniversary this year. Its Managing Director, Gábor Csekei tells Diplomacy&Trade about how they cherish the traditions established by the founder, József Törley at the end of the 19th century. “The spirit of József Törley is still part of the company and its culture. […]
Metalconstruct Aluminium Structures Factory Plc., based in Kecskemét, Hungary, will build a new plant hall and expand its aluminum foundry with new equipment with an investment of about HUF 450 million at its Sirok site in NE Hungary, the company's CEO told the state news agency MTI. CEO Ernő Kis highlighted that the European Union […]
KNAPP Hungary Ltd., a company manufacturing equipment for warehouse automation, has established a production plant with a EUR 16.7 million investment in Nemesvámos, north of Lake Balaton. The inauguration ceremony took place at the site where 250 new jobs will be created by the end of 2022. Having a tradition of seventy years, Austrian KNAPP […]
Tungsram, an internationally renowned multinational company headquartered in Budapest, offers lighting and intelligent lighting-based services, smart solutions for buildings and cities, as well as tailor-made ‘greentech’ solutions. The company looks back at a history of over 125 years. Its President & CEO Joerg Bauer tells Diplomacy&Trade about how Tungsram reacts to market changes and opens […]
A declared aim by the Hungarian Export Promotion Agency (HEPA) is to be a reliable and active partner for Hungarian SMEs in the field of export development, contributing to domestic export success. The CEO of the organization, Dr. Kristóf Szabó explains to Diplomacy&Trade how they wish to achieve this goal and make selected firms ‘export-ready’. […]
