Total gross sales at the company amounted to HUF 10,724 million in the first half of the 2020-2021 business year - a year-on-year decrease of 12.3%. Net sales (that is, sales revenues excluding excise tax and public health product tax) were HUF 5,724 million, which is a a year-on-year decrease of 11.5%. A report by […]
Two young Hungarians produced a bacterium cocktail, unique in the world, which can break down any disposable plastic in seven weeks. They are now embarking on industrial testing, after Vespucci Partners in Budapest and American Techstars, one of the world's most renowned international accelerators, have also invested in a biotech startup called Poliloop, the Hungarian […]
SPAR Hungary Ltd. has purchased the plant of ZIMBO Perbál Húsipari Termelő Kft. ('Meat Industry Production Ltd.'). Following the successful completion of the transaction, the company will further modernize the meat plant, which opened in 1998 in Perbál, just west of Budapest. “The most important goal of SPAR is to deliver quality products from controlled […]
Following approval by the European Commission, Hungary's MVM Co. Ltd. has acquired the 100% ownership of innogy Česká republika a.s. A statement by MVM Group points out that MVM Co. Ltd. has acquired the largest natural gas trader in the Czech Republic, which is increasingly present in electricity trading market as well. The Czech company […]
Despite investor appetite remaining strong for the Central and Eastern European (CEE) region, year-end volumes are likely to reach EUR 10-11 billion, appr. 20% lower than in 2019, Colliers International reveals. Despite COVID-19 impacts on markets, flow volumes remain relatively healthy for the first three quarters of 2020 at appr. EUR 8 billion. Poland attracted […]
State-owned Hungarian energy group MVM has acquired the Hungarian and two Chinese subsidiaries of the German energy company Enexio. With the change of ownership, MVM also received a world-famous Hungarian patent, the Heller-Forgó's refrigeration system, which made Enexio an important player in the energy market. According to the sales director of Enexio Hungary Zrt., Balázs […]
Toronto-based Spin Master Corp., a leading global children's entertainment company, has announced it has reached an agreement to acquire London-based Rubik's Brand Ltd, owner of the world-famous Rubik's Cube. A statement by the company quotes Elizabeth LoVecchio, Spin Master's Vice President Marketing, Games by saying that "the Rubik's Cube is an iconic puzzle that has permeated pop culture and […]
The usual winter production break is expected to be held between December 18 and January 17 by the Mercedes factory in Kecskemét, and production is currently suspended for a few days in October as well. Mercedes-Benz Manufacturing Hungary Ltd. told the Hungarian news agency MTI on Monday that taking advantage of the Christmas holiday period, […]
The “ExCEEding Borders: Industrial & Logistics Market in CEE-17” report discusses key trends, challenges, technologies, labor market and investment incentives in this sector. The I&L sector in the CEE-17 has become one of the most sought-after asset types since 2019, after Offices and Residential according to Colliers International, CMS and Randstad. The report revealed that […]
The fast-paced, sometimes hectic flow of everyday businesses may lead us to overlook statutory data registry or reporting obligations. While these omissions, such as the failure to report an address change, a new delivery agent, or to publish the annual account balance, may seem as minor flaws bearing little or no consequence, they can actually […]
Chervon Auto establishes its first plant outside China in Hungary. The value of the greenfield investment aimed at serving European partners more efficiently is more than EUR 50 million. According to a report by the Hungarian Investment Promotion Agency, the new plant in Miskolc will have a capacity to produce up to 2 million vehicle […]
Hungary's second largest healthcare company, Sanofi, is investing about EUR 22 million euros (approx. HUF 7.9 billion) in its Miskolc plant, increasing its production capacity for pre-filled syringes by 50%. The Hungarian government contributes HUF 1.2 billion to wards the investment. Following the investments of the past years, Sanofi is now launching another significant expansion […]
Every vision has its story. Straumann’s began more than 60 years ago. Since then, their innovations and achievements have become landmarks in dentistry worldwide. Straumann began as a family-owned business, grew into a publicly owned holding, and today, is comprised of a number of international companies around the world. The story of the Hungarian Branch […]
100th VIKING mobile deck screen has been produced at Eydescreen, the Hungarian factory of the Norwegian firm EYDEMASKIN AS and sold to its new owner, a local landscaping company. As the founder of EYDEMASKIN AS, Stig Eyde put it, it is a "significant milestone for our production, and continue targeting new markets in Europe." He […]
The foundation stone of a new production facility for Béres Pharmaceuticals was laid this Thursday in Szolnok E Hungary. The Hungarian pharma firm is expanding its activities in Szolnok with an investment of more than HUF 6 billion (which is currently close to EUR 17 million). Finance Minister Mihály Varga announced at the ceremony that […]
