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Alstom Investment in Mátranovák

Apr 11, 2024

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 […]

New Automotive Investment Inaugurated in Kecskemét

Apr 8, 2024

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. to Build a Factory in Sóskút

Mar 11, 2024

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 […]

American Automotive Supplier Investment in Oroszlány

Dec 4, 2023

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 […]

Green Energy Storage Scheme for Firms to Start in January

Nov 9, 2023

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 […]

New Granulation Facility Inaugurated In Eger

Oct 4, 2023

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 Capacity Expansion in Székesfehérvár

Jun 12, 2023

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 […]

Fiberboard Production Plant Expanded

Jun 4, 2023

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 […]

Logistics Development by Transit-Speed

May 20, 2023

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. […]

Government May Throw Another Lifeline to Tourism

May 13, 2023

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 has learned. In the framework of the SME Energy Costs and Investment Support Program, businesses […]

Another Chinese Battery Firm to Appear in Debrecen

May 9, 2023

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 […]

State Support for Another Battery Parts Firm in Hungary

Feb 6, 2023

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 Completes Smart Office Project

Jan 21, 2023

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 […]

Autonet Opens Warehouse Outside Budapest

Oct 8, 2022

Switzerland-based leading auto part supplier SAG – Autonet Group opened its brand-new high-tech warehouse worth over EUR 50 million in Üllő, just south of Budapest. Offering vacancies for 130 future workers, the project will provide a highly automated storage space of 16,500 square meters that is bound to serve a number of regional markets. Hungarian […]

Infineon Expands Semi-Conductor Plant in Cegléd

Oct 6, 2022

German-owned Infineon Technologies celebrated the expansion of its plant in Cegléd, which is Hungary’s biggest semi-conductors manufacturing facility. The EUR 100 million investment that is to create up to 275 jobs allows for the production of high-power semiconductor modules that will be built into the inverters of electric and hybrid vehicles. One fifth of the […]

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