The Austrian KNAPP AG is setting up a new plant in Nemesvámos (near Veszprém). The manufacturer of conveyor systems and warehouse logistics equipment invested almost EUR 16.7 million.

The state budget reported a record deficit of HUF 875 billion (EUR 2 billion) in March. By the end of March public deficit already reached 73.3 percent of the full-year target.

The Hungarian Indotek Group acquired a 43% stake in the Croatian Fortenova Group. The Russian Sberbank had to part with its participation because of the EU sanctions against Russia after the outbreak of the Ukraine war.

The Masterplast Nyrt. has established Masterplast Italia SRL with 51% business share of the company. The company was set up to trade in thermal insulation materials with a share capital of EUR 200,000.

MÁV-Start has signed a public procurement contract to purchase 115 new Vectron electric locomotives from Siemens Mobility Kft. and Siemens Mobility Austria GmbH with a more favorable offer than the cost estimate.

The Kravtex-Kühne group of companies handed over a 4,000-square-meter production hall, expanding the bus factory’s floor space to more than 20,000 square meters.

The lighting company Tungsram is facing unsolvable challenges as a result of the pandemic, global supply difficulties and the war in Ukraine.

The German TUBEX Holding GmbH is the new owner of Mátrametál Kft. The Kft., which has been based in Sirok for over 60 years, manufactures aluminum aerosol cans and tubes with 360 employees.

The electronics manufacturer Rosenberger Magyarország Kft. is investing a total of HUF 15 billion (EUR 40 million) in three locations.

The Czech company Nymwag is building Europe’s most modern rail vehicle factory and an R&D base in Nagykanizsa. Almost 1,500 new jobs will be created here.