Leading global automotive supplier KOSTAL Group establishes a new business service center (BSC) in Budapest that will employ up to 360 highly skilled workers. The office facility will support and enable the Group’s existing operations in Europe and across the globe. The company is reported to launch a HUF 1.15 billion training program for future […]
Gum-Tech Ltd., a company based in Cegléd, SE of Budapest, has expanded its capacity with a rubber products production line with an investment of about HUF 340 million, the company told the state news agency MTI. According to the company's statement, the branch was developed with the help of the HUF 170 million EU support […]
Otthon Centrum's (OC) net sales amounted to HUF 6.2 billion in 2021, compared to HUF 4.4 billion a year earlier, the real estate brokerage firm said on the Budapest Stock Exchange's website on Tuesday. Last year, the group achieved a record in both real estate network turnover and loan intermediation, the report said. The company's […]
Continest Technologies Plc. has received a total of HUF 2.4 billion in capital from three domestic venture capital fund managers to support its growth plans. The Székesfehérvár Municipal Fund and Hiventures, a member of the MFB Group, each made a HUF 1-1 billion capital injection to become minority shareholders in the company, which develops and […]
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 […]
