Johnson Electric is closing its automotive parts plant in Ózd, NE Hungary as mainatining production there has become economically unsustainable. The factory employs almost 800 people. The decommissioning of the production is planned to take place in several stages and would end in April 2022. The company said in a statement that it is aware […]
Coca-Cola HBC Hungary is launching an investment with a total cost amounting approximately to HUF 30 billion in Dunaharaszti, south of Budapest, as a result of which the Hungarian plant will become the largest Central European Manufacturing center of the Coca-Cola system by the end of 2025. Coca-Cola established its operation in Hungary in 1993, […]
Siemens Mobility will create 120 new R&D jobs in its Budapest office in order to implement the 'Digitalization of track-based transport modes', by increasing the number of those employed in this field to 169. The development of driving IT systems, operational security diagnostics, and engineering systems allowing flexible configuration of the railway operations will be […]
The President of the Italian Chamber of Commerce in Hungary (CCiU), Francesco Maria Mari passed away in Rome this Tuesday morning, the Chamber has announced. The announcement, signed by CCiU Vice President Ferdinando Martignago and CCiU Secretary General Stefania Speziani, says that "it is with much regret and sadness that we communicate to all of […]
Erste Group helps socially beneficial businesses in Central and Eastern Europe during the coronavirus epidemic with interest-subsidized loan. The Erste Group's Social Banking program helps companies in Central and Eastern Europe that do socially useful work by providing them with an emergency working capital loan at which the interest is paid by the Erste Foundation […]
The stock index of the Budapest Stock Exchange (BSE) rose in increasing turnover during the four-day trading week; the BUX index closed at 44,042.12 points on Friday, 330.28 points, or 0.76% higher than the previous week’s closing value. The stock market turnover was HUF 58.04 billion after last week's HUF 48.03 billion, with the leading […]
The Austrian IT company Plaut has acquired a majority stake in the Hungarian firm Netlife Consulting, which specializes in SAP consulting and continues to operate under the name msg Plaut Hungary Ltd., the Austrian company told the Hungarian state news agency MTI. According to the information, with the acquisition, the company aims to reach a […]
The 250,000th Audi Q3 model rolled down from the production line of the Audi plant in Győr. The anniversary car was a tango red Audi Q3 Sportback with a plug-in hybrid powertrain, which will soon head for Germany, a press release from Audi Hungaria says. Production of the Q3 model began in 2018 in Győr, […]
The Park Atrium office building, overlooking Budapest's City Park, welcomes 2021 with a new identity, rearranged and optimized functionalities, and fresh interior design ideas for its ground floor lobby, main reception, conference center and community garden. A press release by the Landlord – a property fund based in Luxemburg and managed by REInvest Asset Management […]
Germany is Hungary’s most important economic partner, the Hungarian economy highly relies on the ‘well-being’ of the German one. The CEO of the Hungarian Investment Promotion Agency (HIPA), Róbert Ésik explains to Diplomacy&Trade his agency’s role in attracting and maintaining German investment in this country. “From the foreign direct investment (FDI) point of view, Germany […]
The recently established Stellantis Group, as the fourth largest automotive conglomerate in the world, is bringing the manufacturing of the new generation 1.6-liter petrol engines to Szentgotthárd, SW Hungary. The engine, which is designed for hybrid cars, will be produced at a yearly output of 200 thousand items, in addition to the production of 350,000 […]
Budapest's office buildings skyline will be enriched with a futureproof complex designed with lots of attention to environmental challenges and to the needs of the people working inside, builder Skanska projects. The multinational construction and development company Skanska's latest investment in Hungary, H2Offices is one of the company's most impressive projects in Budapest. The new […]
Leader in aviation informatics, Lufthansa Systems opens new chapter in strategic partnership and looks beyond hard-hit traditional markets to thrive. Airlines had to quickly adapt to new demand behavior and change their steering processes along with their IT solutions, following the adverse effects of the pandemic. There was a sudden need of urgent repatriation flights […]
Hungary’s largest telecommunications service provider Magyar Telekom reported its consolidated financial results for the fourth quarter and full year of 2020, in accordance with International Financial Reporting Standards (IFRS) as endorsed by the EU. Total revenues increased by 3.6% year-on-year to HUF 188.9 billion in Q4 2020 thanks to increases in telecommunication service revenues in […]
In its 2020 report to the Budapest Stock Exchange, the Hungarian pharmaceutical company Gedeon Richter Plc. states that the company managed to service its customers on time and in full also into the last quarter of the reported year despite a sharp increase in COVID-19 case numbers in its countries of operation. Additional protective measures […]
