NEWS – Invest and Trade in Hungary – ITDH

ITD Hungary Zrt.1061 Budapest, Andrássy út 12.
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Latest Update 9th February 2011

IKG Opens HUF 115m Metal Works

March 8, 2011Ipari es Kommunalis Gepjarmu (IKG) opened its new metal works at Morhalom Industrial Park (South-East Hungary). The HUF 115 million investment saw a contribution of HUF 56 million from EU structural funds, and will create about 20 new jobs. IKG has an annual revenue of EUR 500,000 with 99pct of its output being exported to Germany.
 

Givaudan Breaks Ground for New Flavoring Plant in Hungary

March 8, 2011Swiss fragrance and flavorings manufacturer Givaudan broke the ground for its new production hall in Mako (South Hungary) on Thursday. In a bid to rationalize production in the food flavorings branch, as well as its mixing capacities, the company is moving a significant amount of its production from England and Switzerland to Hungary. The new production hall will cost CHF 170 million (HUF 35.7 billion) and employ 300 people when it starts operating in 2013. The Hungarian state has supported the project with HUF 1.2 billion.
 

SAB Technologies Completes HUF 1bn Plant in Hungary

March 1, 2011Austrian-owned steel frame and transformer maker SAB Technologies has completed a HUF 1 billion new assembly hall at its base in Vep (West Hungary). The investment was granted HUF 274 million in EU funding. Company CEO, Guenther Stoimaier, said the Vep base will soon see the completion of a new research facility dedicated to next-generation raw materials so as to reinforce the company’s position as a supplier of biogas plant constructors. A new energy tower (utilizing renewable energy) will also be erected at the base. Stoimaier has also revealed plans to build a new port on the Danube at Gonyu (North Hungary) and an adjoining assembly hall similar to that recently finished in Vep.
 

Industrial Gross Output Increased by 13.6pct in January

March 8, 2011According to preliminary data from January 2011, industrial gross output increased by 13.6pct compared to January 2010; the index adjusted by working days rose by 10.9pct. The volume of industrial production in January – according to seasonally and by working-day adjusted indices – was above the level of the previous month by 15.5pct.

Mobile Subscriptions at 12m

March 7, 2011At the end of 2010, the number of mobile subscriptions was 12 million. Calls initiated from mobile networks accounted for nearly four-fifths of the total call duration. While cable and other fixed VoIP phoning is getting more popular, fixed lines further decreased in number. In one year, Internet subscriptions increased in number by 539,000 and have exceeded 3.3 million. Mobile Internet subscriptions total more than 1.3 million. .

Exports Increased 17pct, Imports 15pct in 2010

March 4, 2011Over the course of January-December 2010, the volume of exports and imports increased by 17 and 15pct respectively, on the previous year. Calculated from data at current prices, exports rose by 19pct and imports were up by 17pct in HUF terms. The growth rates in EUR were 21 and 19pct, respectively. The trade balance showed a surplus of EUR 5,525 million, which was higher by EUR 1,786 million than one year earlier.

Westlog Distribution Center: 11,500 sqm Lease Agreement Signed

March 3, 2010WestLog DC, the state-of art warehouse-distribution center, has started 2011 by signing a 11,500 square-meter lease agreement with Foxconn CNSBG, the solutions provider for network communication products. CNSBG is one of the nine business units of Foxconn Technology Group specializing in design, manufacture and logistics of various network communication products, mobile phones and communication terminals. Foxconn operates a production facility in Komarom, and in order to further increase CNSBG’s manufacturing capacity, the raw material warehousing (as non-core production activity) has been recently outsourced to WestLog DC.

Taiwan Trade Mission to Hungary

March 3, 2010The Taiwan External Trade Development Council (TAITRA), the foremost non-profit trade promotion organization in Taiwan, is leading a delegation comprising 57 Taiwanese enterprises to visit Hungary, Turkey, Belarus and Russia from April 3-17. According to the delegation head, Mr. Wayne Wu, TAITRA’s deputy chairman, the Taiwanese delegation over the course of this 15-day visit aims not only to explore the potential opportunities that are available in these emerging markets, but it also to strengthen cooperative ties with its partners.