Hungarian real estate broker firm Otthon Centrum Holding is acquiring a majority stake in Open House franchise and loan brokerage holding company, according to a statement published on the website of the Budapest Stock Exchange (BSE) on Monday. The transaction will result in a higher quality and more efficient customer service through the utilization of […]
From this coming Monday, certain employees of the lighting production company Tungsram will be sent on leave due to partial plant shutdowns, because the company is facing an insoluble situation due to economic circumstances, the southwestern Hungarian newspaper Zalai Hírlap wrote on Saturday, referring to the company's CEO Joerg Bauer. Joerg Bauer said that after […]
Automotive supplier Modine Hungária Gépjárműtechnikai (‘Automotive’) Ltd. responds to pandemic-induced challenges by expanding operations with an investment of nearly EUR 5.2 million in Gyöngyös and Mezőkövesd, both in eastern Hungary by using state subsidy (amounting to close to a quarter of the invested amount) to improve competitiveness. Modine Hungária Gépjárműtechnikai Ltd., which produces fridges and […]
AutoWallis Plc. is purchasing Renault Hungária Ltd. together with a major player on the European automotive market, the Portuguese Salvador Caetano Group, thus attaining exclusivity for sales of vehicles of Renault, Dacia and Alpine brands in Hungary. A statement on the website of the Budapest Stock Exchange says the transaction is submitted to the approval […]
The construction, operation, financing, development and acquisition of commercial property in 2022 and beyond will continue to be impacted by the price of fuel, energy and construction materials. This will be combined with challenges in the supply chain, the nearshoring of operations and rapidly rising inflation, culminating in a direct effect on sale prices and […]
Electronic product manufacturer RAFI Hungaria Ltd. is to carry out storage expansion related investments in value of EUR 6.5 million in Mezőtúr, eastern Hungary. Over a quarter of the investment amount is covered by Hungarian taxpayers through a government decision. The project should be completed by the end of the year. Founded in Germany over […]
According to the sale and purchase agreement, the sale price for all shares representing the stake is HUF 90 million. The name of the buyer was not disclosed. TT-Geotermia, 100% owned by PannErgy Plc., owns some, mostly rather obsolete, equipment and facilities that provide conventional utility distribution to PannErgy’s properties held for utilization and sale […]
The Russian-Ukrainian war is also putting the construction industry in Hungary in a difficult situation, raising prices for domestic construction materials and making it impossible to import products, and slowing down construction work, according to the results of a recent sectoral economic survey. The President of the National Association of Construction Contractors (ÉVOSZ), László Koji, […]
Rosenberger Group’s two Hungarian subsidiaries, Rosenberger Magyarország Elektronikai (‘Electronics’) Ltd. and Rosenberger Cabling Automotive Ltd., expand manufacturing capacity of automotive electronics and data transfer connectors with an over EUR 44 million investment in Hungary. The development to be carried out in three countryside locations, namely in Jászárokszállás, Jászberény and Nyírbátor, all in the eastern part […]
Toray Industries Hungary Ltd.’s new plant in Nyergesújfalu, NW of Budapest, has been inaugurated that marks the first phase of an EUR 408 million investment with the purpose of manufacturing battery separator film (BSF) used for lithium-ion batteries. The project that is set to employ 188 primarily highly skilled workers further strengthens Hungary’s position in […]
The turnover of Mapei Ltd., a distributor of building materials, increased in Hungary by 22% year-on-year to HUF 27.7 billion last year, and is expected to reach HUF 33 billion this year, up 19%. The company's managing director, Béla Markovich, presented the company's research on the shortage of construction professionals at a press conference in […]
A HUF 26 billion investment by the Hungarian subsidiary of Japanese electronics giant TDK will create 250 new jobs in Szombathely. The Hungarian government is providing HUF 6.6 billion (around a quarter of the total investment costs) to develop a business unit to manufacture sensors for electric cars. TDK, one of the world's leading electronics […]
The Kravtex-Kühne Group's new 4,000-square-meter production hall was inaugurated in Mosonmagyaróvár, NW Hungary on Friday, expanding the bus factory's floor space to more than 20,000 square meters. István Krankovics, chairman of the group's board of directors, said that the Credobus plant, part of the Kravtex-Kühne group, has been expanding continuously since 2008, and this is […]
The Hungarian oil and gas company MOL has signed an agreement with Waldorf Production Limited (“Waldorf”) covering the sale of its entire Upstream portfolio in the United Kingdom. The divested offshore assets include MOL’s 20% stake in the Catcher field, a 50% stake in Scolty & Crathes and a 21.8% stake in Scott as well […]
By investing EUR 180 million, MOL Petrolkémia builds a new plant in Tiszaújváros where its foundation stone laying ceremony took place this Wednesday. 7-8% of the investment costs are covered by Hungarian taxpayers through a government decision. The production unit, which has an annual manufacturing capacity of 100,000 tons of propylene per year, covers a […]
