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 […]
"Construction material prices have already increased by 15-25%, much more intensively than originally expected, due to the impact of the war, and construction is becoming even more expensive as manufacturers continue to announce increasingly drastic price hikes," the business daily Világgazdaság writes. Raimund Wiesinger, president of the Hungarian Building Materials Trade Association (ÉKE), told the […]
Makó-based Váll-Ker Ltd., a manufacturer of fireplaces, is increasing its production capacity by 75% with a HUF 3 billion investment, with the support of the European Union, the company informed the state news agency MTI. EU support will cover HUF 1.515 billion of the development under the ‘Hungarian multi’ program. The main activity of the […]
KOMETA 99 Plc.’s EUR 94.9 million capacity expansion investment kicked off with foundation stone-laying in Kaposvár as a result of which the volume of processed meat can go up by over one-third, whereas the export to sales ratio is also to soar substantially. The project that is set to create 280 jobs will improve production […]
Audi Hungaria closed the 2021 fiscal year with a stable result, despite challenges caused by the coronavirus pandemic and semiconductor shortages. The world’s largest engine manufacturing plant produced 1,620,767 engines while in vehicle production, 171,015 cars rolled off the production line – a record in the history of the company. Last year, the company generated […]
It was thirty years ago that the Kőbánya Brewery became a shareholding company, it was 25 years ago that it took up the name Dreher Breweries and it will be five years this April that the Japanese Asahi Group Holding announced completing the acquisition of the company among other businesses in the region. On all […]
