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Yaris Kabin to Establish Factory in Hungary

May 6, 2020

Turkish firm Yaris Kabin is going to establish its first production unit abroad in Hungary. By this investment worth EUR 20.3 million, the company will manufacture tractor and agricultural machinery cabins in Iváncsa, south of Budapest. According to the Hungarian Investment Promotion Agency (HIPA), 150 jobs will be created in the four halls and the […]

Unilever Develops its Hungarian Factory

Apr 30, 2020

Unilever Hungary will be expanding its household chemical goods production facility in Nyírbátor, NE Hungary with an investment of EUR 42 million (now cca HUF 15 billion), adding 30 new jobs to the existing 300. One of the most modern European plants of the British-Dutch parent company expands the floor area of its home care […]

Pandemic Situation Measures at CIG Pannonia

Apr 20, 2020

CIG Pannonia Life Insurance Plc. has issued a statement informing its investors and other participants at the Budapest Stock Exchange that it has taken and implemented fast and effective measures to compensate for the effects of the emergency situation caused by the COVID-19 epidemic. At the beginning of the epidemic in Hungary, the management prepared […]

MOL Discovers Oil and Gas in the North Sea

Mar 19, 2020

MOL Norge AS, a wholly owned subsidiary of Hungary' MOL Group, and its joint venture partners have discovered oil and gas in an offshore field located about 200 kms west of Stavanger in the Norwegian part of the North Sea. A statement by the company says the exploration well in the 820S licence area was […]

Production line at the Mercedes plant in Kecskemét

Major Mercedes-Benz Investment at its Kecskemét Location

Mar 16, 2020

Mercedes-Benz AG increases flexibility in the global production network of Mercedes-Benz cars by building a new press shop on an area of ​​around 23,000 square meters in the company’s plant in Kecskemét, SE of Budapest. The new press shop will set standards in digitization in metal forming while design, development, planning, tool manufacturing and production […]

MOL Group: 2019 Results and 2020 Outlook

Feb 21, 2020

The Hungarian oil and gas giant MOL Group has announced its financial results for 2019 this Thursday. The report says that despite the much challenging and volatile external environment at the end of the year, MOL Group generated USD 598 million Clean CCS (current cost of supply) EBITDA (earnings before interest taxes depreciation and amortization) […]

Work in Linamar's Békéscsaba factory

Linamar Starts up with Electro-mobility in Békéscsaba

Feb 13, 2020

Canadian automotive company Linamar establishes its European electro-mobility center in southeast Hungary. The partially-independently developed electric powertrains of the firm will be manufactured in Békéscsaba for premium category cars. The two units (located in Orosháza and Békéscsaba), involved in the EUR 78 million investment program, will create 250 long-term, competitive jobs in the coming years. […]

Audi Hungaria Closes 2019 with Excellent Production Results

Jan 16, 2020

Audi Hungaria ended 2019 with a high production result despite challenging conditions: last year, more vehicles rolled off the assembly line in Győr, NW Hungary than ever before. In addition, the company produced over 90,000 e-motors a year after production started. At the same time, 2019 saw the start of the serial production of the […]

OTP Bank Completes Slovenian Acquisition

Dec 17, 2019

Hungary’s largest bank, OTP Bank Plc. has announced that the financial closure of its Slovenian transaction has been completed. As a result, OTP Bank has become 99.73% owner of SKB Banka, the Slovenian subsidiary of Societe Generale Group and other local subsidiaries held by SKB Banka. With a market share of nearly 9%, SKB Banka […]

Suez Water Technologies and Solutions Hungary Ltd. CEO Yuvbir Singh

Water Purification Factory Expanded in Oroszlány

Dec 10, 2019

French company Suez is expanding its water purification membrane factory in Oroszlány, west of Budapest with an investment of HUF 9.6 billion, creating 85 new jobs. As the Hungarian Minister of Foreign Affairs and Trade, Péter Szijjártó stressed at the announcement of the investment in Budapest, the products of the Oroszlány plant are already used […]

Audi starts mild-hybrid production in Győr

Audi Starts Mild-Hybrid Car Production in Győr

Dec 5, 2019

Audi Hungaria has begun the serial production of the Q3 and Q3 Sportback models with Mild Hybrid Electric Vehicles (MHEV) powertrain in Győr, NW Hungary. Both models feature a 1.5-liter TFSI engine, also made in Győr, in collaboration with a 48-volt on-board system and a Riemen-Starter-Generator (RSG). The production line had been prepared for the […]

Messer gas production facilities at the site of MOL Petrochemicals

Messer Builds Plant for MOL in Hungary

Dec 4, 2019

Messer Hungarogáz Ltd., member of the Germany-based supplier of industrial gases Messer Group GmbH has signed a contract for the construction of a new on-site facility with MOL Petrochemicals, a member of Hungary's MOL Group. A statement by the Messer Group says that the plant will supply nitrogen and instrument air for a new polyol […]

Rába Holding Utilizes Immovable Property

Dec 4, 2019

Following preliminary negotiations Rába Automotive Holding Plc. received an offer from one of Europe’s leading multinational trading companies to buy a part of its immovable property in downtown Győr. The part of the area known as Városrét, dedicated for commercial use, is going to be utilized as a result of years of preparatory work and […]

Lufthansa Systems Opens New Division in Hungary

Nov 28, 2019

Lufthansa Systems Hungária will open a new division at its base in Szeged, southeastern Hungary, specializing in the development and testing of software used in the aviation industry, state news agency MTI reported.The division will initially employ 10-15 IT professionals but the company plans to increase headcount by 15-20 employees every year. Lufthansa Systems started […]

BUD Airport Cargo City

Cargo City Opened at Budapest Airport

Nov 25, 2019

Just twelve months after commencement of works on site, BUD Cargo City has been handed over at Budapest Liszt Ferenc International Airport. The EUR 50 million facility is not only a world-class logistics base but also a catalyst, enabling Hungary and Budapest Airport to become the cargo gateway of Central and Eastern Europe, according to […]

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