The German KOSTAL Group – one of the world’s leading automotive supplier – is establishing its first global business service center in Budapest.

Rheinmetall (51%), 4iG (39%) and HM EI (10%) have signed a preliminary agreement to establish a joint venture.

German Maschinenfabrik Reinhausen (MR) and Ganz Transzformátor- és Villamos Forgógépgyártó Kft. signed a contract for cooperation in the development and production of intelligent transformers.

MVM Zöld Generáció Kft. is building 28 solar power plants across the country with an investment of almost HUF 7 billion (EUR 18 million).

Kende Gastro Zrt. presented Hungary’s first automated container store. The company is the exclusive European distributor of the technology and plans to expand in the neighboring countries as well.

BioTech USA Kft., which manufactures dietary supplements, has announced a capacity expansion worth HUF 11.5 billion (EUR 30.34 million).

The plant being built in Debrecen will completely abandon fossil fuels. BMW wants to operate the plant exclusively with renewable energy sources.

Eötvös Loránd University (ELTE) and the Bosch Group established Hungary’s first Artificial Intelligence industrial department.

Consumer prices grew by an annual 9.5% in April and core inflation rose to 10.3%. The last time the inflation was as high was in summer of 2001.

Tutti Élelmiszeripari Kft., based in Rábapatona, has invested HUF 1.3 billion (EUR 3.43 million) to increase capacity.