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’. […]
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 […]
