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 […]
The real estate investment company S IMMO Hungary, which manages the property, will install more than 400 solar panels on top of the Blue Cube office building in the Hungarian capital. The company, which is also listed on the Austrian stock exchange, aims to minimize its ecological footprint, including the transformation of the Blue Cube […]
The largest investment ever made by tyre distributor MARSO Ltd., the firm's logistics center in Dunaharaszti, was inaugurated this week. MARSO Ltd, one of the largest tire distributors in Hungary and owner of the MARSOPONT service network, has taken advantage of the positive economic effects and processes of the past years. Especially in the field […]
Hungarian real estate developer and investor Wing Plc. has acquired the Airport City logistics park, a business facility located next to Budapest’s Ferenc Liszt International Airport. The park is situated on a nearly 12-hectare plot of land comprising 44,000 square meters of modern warehouses and 8,000 square meters of office space in six existing buildings […]
The Swiss multinational food and drink processing conglomerate corporation Nestlé has announced a new plan to tackle child labor risks in cocoa production. At the center is an innovative income accelerator program, which aims to improve the livelihoods of cocoa-farming families, while also advancing regenerative agriculture practices and gender equality. A cash incentive will be […]
A waterfowl further processing unit will be added to the plant in Mélykút, Southern Hungary and efficiency boosting investments will be carried out by Hunent Víziszárnyas Feldolgozó ('Waterfowl Processing') Plc. in value of HUF 6.5 billion, about a third of which is to be covered by Hungarian taxpyers through a government decision. As a result, […]
