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 […]
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 […]
