The Japanese company has set up a carboxymethyl cellulose processing plant on its 43,000-square-meter site in Vácrátót, north of Budapest. The environmentally friendly product produced here is used as a binder for electric vehicle batteries. The larger granules of the raw material, which are delivered to the Nippon Paper Chemicals Europe plant, are ground into […]
So far, more than 3,400 companies have requested funds for the purchase of green vehicles, the requests received so far together cover more than half of the total amount of HUF 30 billion, around HUF 16 billion, the Ministry of Energy (EM) reported. The largest proportion of subsidies were requested for passenger cars, this category […]
As part of the HUF six billion development by the French engineering concern, modern machines were purchased, which can increase the production capacity by 40%. According to a government decision, 20% of the development amount is covered by Hungarian taxpayers. Alstom told MTI on Wednesday that the investment amount will be used to modernize its […]
The Hungarian automotive company Autóflex-Knott Ltd. has completed an HUF 800 million development to increase its market share in the US and Europe. Hungarian taxpayers, thanks to a government decision, have provided HUF 400 million for the purchase of machinery to machine higher-performance parts. A solar panel system was also recently installed on site, enabling […]
Bayer Construct Plc. is to build a factory in Sóskút, southwest of Budapest, where it will operate a bathroom assembly plant, as part of a new HUF 15 billion investment, according to a statement by the Ministry of Foreign Affairs and Trade. The project, which promises to create 100 new jobs, will be subsidized by […]
Thanks to a EUR 59.6 million investment BorgWarner takes its Hungarian operation to the next level in Oroszlány, Hungary. The American automotive supplier will add new products to its portfolio to serve demand in the hybrid and electric drivetrain segment. According to a government decision, Hungarian taxpayers cover over a fifth of the investment costs […]
A HUF 62 billion tender for the construction of industrial electricity storage facilities will be launched from January, with non-refundable subsidies and revenue compensation, Gábor Czepek, the Minister of State for Public Administration of the Ministry of Energy (EM) announced on Thursday at the Energy Forum series in Komárom, NW of Budapest. He said the […]
Swiss-owned Omya HungariaLtd. celebrated the inauguration of its brand new agricultural granulation plant in Eger thanks to a EUR 41.5 million investment (of which HUF 260 million is state subsidy). The most advanced plant in the company’s network is set to supply farmers in Hungary and surrounding countries. Omya's predecessor was founded in Switzerland in […]
Denso Manufacturing Hungary Ltd. installs three new production lines at its Székesfehérvár site and launches a large-scale reskilling program to adapt to electrification. The investment scheduled to be completed by April 2024 is worth EUR 64.4 million (over 14% of which is covered by Hungarian taxpayers through state subsidy) with up to 55 new jobs […]
Austrian-owned KRONOSPAN-MOFA Hungary Fiberboard Production Ltd. is expanding the capacity of its plant in Mohács, S Hungary, for the production of fiberboard to the tune of HUF 2 billion, with Hungarian taxpayers covering HUF 286 million of the invested amount as state contribution. The Hungarian timber industry, which employs 16,000 people, also set a record […]
Hungarian-owned logistics firm Transit-Speed Ltd. invested EUR 10.7 million in Kisvárda, NE Hungary to set up new warehouses and beef up its wagon loading technology. Now that the developments are complete, 20 new jobs have been created. Over one third of the investment costs are covered by Hungarian taxpayers through a government decision. Transit-Speed Kft. […]
The Hungarian government may extend by three months energy subsidies available for micro-enterprises and SMEs until the end of March. Such a measure would help thousands of catering and accommodation establishments to manage their overheads, the business news site Napi.hu has learned. In the framework of the SME Energy Costs and Investment Support Program, businesses […]
Chinese battery cell manufacturer EVE Power will build a new production plant in Debrecen by investing more than EUR one billion of which a small portion, some EUR 35 million, will be paid for by Hungarian taxpayers through a government decision. The first such European facility of the company will supply BMW Group’s neighbouring iFactory […]
A new stakeholder joins the Hungarian electric vehicle manufacturing landscape thanks to Nippon Paper’s investment in Vácrátót, north of Budapest to produce high-performance environmentally friendly cellulose-based additives for batteries, according to the Hungarian Investment Promotion Agency (HIPA). The company plans to set up an 8,000-square-meter plant in Hungary that is expected to be up and […]
SMP Solutions' smart office project worth more than HUF 485 million has been completed, the company has announced in a press release. The company received a non-refundable grant of HUF 297 million from the National Research, Development and Innovation Office (NRDI Office) for the development. The project includes mobile navigation for orientation, a guest reception […]
