The commercial part of Horizon Development’s LEED Platinum certified premium mixed-use Budapest downtown property; Szervita Square Building was purchased by Union Investment for one of its institutional real estate funds. The parties agreed not to disclose details of the purchase price. Ádám Irányi, Head of Investment Management Office, Europe, reflected on the benchmark deal by […]
Indian-owned automotive supplier Motherson Group has invested around EUR 16 million to develop its Hungarian sites in Győr, Mosonmagyaróvár, Mosonszolnok and Túrkeve, and has expanded its Kecskemét plant with a new hall. More than a third of the investment will be covered by Hungarian taxpayers due to a government decision. The new hall, which was […]
Surpassing all previous Hungarian auction records, Tivadar Csontváry Kosztka's painting ‘Mysterious Island’ sold for HUF 460 million at the Judit Virág Gallery's auction in Budapest. The Mysterious Island, painted in 1903, is one of Csontváry's most mysterious works, the meaning of the title has still not been deciphered by art historians. The painting reached a […]
MetMax Europe Plc., a metalworking company, has founded a new site in Töltéstava, NW Hungary. With a total investment of EUR 14.5 million retaining 132 jobs and creating 50 new ones, production equipment was purchased for the new plant and storage facilities of nearly 10,000 square meters. Anout one third of the investment costs are […]
The volume of construction output in Hungary in October 2021 surpassed the previous year’s level by 14.5% according to raw data. Output was 19.7% higher in the construction of buildings and 9.7% larger in civil engineering compared to October of the pandemic year 2020. According to data published by the country's Central Statistical Office, in […]
As a result of the development of about EUR 88 million, the large aluminium and energy company Hydro will create 70 new jobs by building a foundry with a capacity of 90,000 tonnes next to its Hungarian pressing plant. Hungarian taxpayers contribute to the costs with about EUR seven million according to a government decision. […]
Nilfisk is a global leader in the field of professional cleaning equipment and full cleaning systems. The company was founded 115 years ago on a vision of producing and selling products of the highest quality worldwide. In Hungary, Nilfisk has been present for two decades. Norbert Kalocsai, Managing Director of Nilfisk Production Ltd. explains to […]
VELUX, a Danish manufacturing company that specializes in roof windows, skylights, sun-tunnels and related accessories, has had its products available in Hungary since 1986 and it was also 35 years ago that the local VELUX firm (now VELUX Magyarország Kft.) was registered here. Explaining to Diplomacy&Trade, how the management – and the global company, which […]
This year, Soft Flow – present in Hungary for almost three decades – celebrates five years of Danish ownership by FOSS, a global provider of high-tech analytical solutions used mainly in the agricultural and food industries. The company, headquartered in Pécs, southern Hungary, boasts the world's first fully automated multimycotoxin measuring instrument based on its […]
The Hungarian Marketing Association (MMSZ) and the Association of Hungarian Communication Agencies (MAKSZ) have developed a code of cooperation to enhance the reputation of the profession and ensure its sustainability. The initiative, called the Fairplay Book, is backed by the 70 client-side members of the MMSZ, 46 member agencies of the MAKSZ and six professional […]
The Mercedes factory in Kecskemét, SE of Budapest, has been shut down, there will be no production until January 12. That is according to a statement to the press by Mercedes-Benz Manufacturing Hungary Ltd. The factory said that they have modified their production plan to adapt to the constantly changing parts supply situation. The start […]
This Friday, Duna House Group has signed an agreement for the acquisition of 70% of the Italian HGroup with future put/call options that can increase its ownership to 100%. With full country-wide coverage, the Bergamo-based HGroup through Credipass, its subsidiary, is currently the second biggest loan broker in Italy by network size with close to […]
Last week marked two major milestones for Horizon Development’s Szervita Square Building. The premium project was acknowledged as the Best Mixed-Use Development in Hungary at the International Property Awards, and its LEED Platinum certification process also concluded successfully. According to a press release by Horizon Development, competing in a great pool of excellent mixed-use projects […]
South Korean electromobility firm EcoPro BM opens its first European factory unit in Debrecen, which is also the first location of the company outside Korea. The volume of the project is EUR 728 million. Thanks to the investment in manufacturing cathode material for lithium-ion batteries essential for electric vehicle batteries, about 631 new jobs will […]
The American global industrial software and engineering company Emerson has carried out a capacity-building investment in Eger, NE Hungary in order to meet automation needs for global customers. As a result of the project worth USD 14.7 million, a building of 10,500 square meters was constructed, which means new offices and additional production server units […]
