With 17,650 passenger cars registered, Magyar Suzuki Corporation (SMC) reached 14.48% market share on the domestic new passenger car market in 2021. The brand has been leading new passenger car sales in Hungary for six years. The Japanese brand, which sells hybrid passenger cars in the EU markets in line with the group’s green aspirations, […]
Graphisoft Park that includes industrial and office facilities in Budapest produced a rental revenue of EUR 14.7 million in 2021, the pro forma net profit reached EUR 4.84 million, which is almost EUR 140,000 higher than the forecast. Accordingly, the Board of Directors plans to propose to the General Meeting the payment of EUR 4.4 […]
MOL Group has announced its financial results for Q4 and full year 2021. In a very volatile external environment, MOL Group generated USD 947mn Clean CCS EBITDA in Q4, bringing full-year clean CCS EBITDA to an all-time high USD 3.531 bn, above the updated guidance. Simplified free cash flow tripled since last year and amounted […]
German engineering giant Bosch will strengthen its electromobility R&D and production activities in Hungary. “Our goal is to make Budapest a center in central and eastern Europe for the development of electric and hybrid drivetrains as well other technical solutions,” the top Bosch official in Hungary, István Szászi points out. As reported by the Hungarian […]
PEX Automotive Systems Ltd. expands capacity with an investment of EUR 15 million as a result of which, apart from the manufacturing of traditional products of the company such as brake wear signals and cables, e-mobility and intelligent automotive related production can also launch. Up to 35 new jobs will be created as part of […]
As a result of a HUF 50 billion (EUR 150 million) investment, a new production hall has been added to the existing site of REHAU-Automotive Ltd. in Újhartyán, SE of Budapest. Close to 15% of the investment cost is covered by Hungarian taxpayers through a government decision. In the plant of 63,000 square meters, plastic […]
Despite the pandemic, the Hungarian subsidiary of the Italian phytocosmetics company Vagheggi continued to increase its sales in 2021 after 2020, and saw the time as right to open its first store for its retail customers. In addition, an ultra-modern training center was inaugurated to provide increasingly innovative training for Vagheggi Beauty's specialist/cosmetic partners. Vagheggi […]
Bridgestone Tatabánya Production Ltd. has spent close to HUF 130 billion in total on developments since it was established fifteen years ago, and by now it has become one of the most modern European tire plants of the Japan-based corporate group. And by 2023, it is bound to be altered into a fully smart factory. […]
Schneider Electric, the world leader in energy management and automation, will significantly increase the number of its suppliers in the region, including Hungary, creating EUR tens of millions in business opportunities. Launched at the end of 2020, its supplier program is creating a dedicated team at the company's regional procurement center in Budapest to support […]
Similarly to Turkish Şişecam Automotive, Italian Novation Tech, also engaged in the automotive sector, also announced its latest investment this week as well. Close to 35% of the HUF 1.3 billion investment cost is covered by Hungarian taxpayers through a government decision. The project that promises to create at least 50 jobs is also related […]
To counter the economic effects of the pandemic, competitiveness boosting programs have been gradually launched under government subsidy schemes (VNT) in Hungary which triggered developments in up to 30 different industries. Turkish Şişecam Automotive announced its latest investment this week related to the most recently initiated VNT3 incentive improving schemes which concern capacity expansion and […]
A new manufacturing center will be established by Wellis Magyarország Plc. for a EUR 5.7 million investment. As a result of the project to be implemented in Ózd, 100 new jobs will be created thanks to which the company can increase its global market share in the hydro massage pool segment. Over 30% of the […]
Hungexpo Plc. is expanding its international relations, establishing a network of partners in eighteen new countries, including Great Britain, Germany, Spain and France, the exhibition organizer announced on Friday. Hungexpo has so far been present in Italy, Turkey, Romania and Slovakia, and will now have a permanent representation in 22 countries. A statement by the […]
LogMeIn Inc., a developer of telecommuting and remote access software with annual sales exceeding USD 1.3 billion last year, will now operate as GoTo and plans to expand its workforce in Hungary by at least 20% this year, John Ford, GoTo's Hungarian managing director announced at a background meeting in Budapest on Wednesday. LogMeIn, which […]
Erste Bank Hungary has completed the first international bond auction in its history, issuing EUR 350 million worth of securities with a significant oversubscription of more than 40%, the financial institution informed the state news agency MTI on Wednesday. The statement said that the bonds, with a fixed interest rate of 1.25% per annum and […]
