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Govʼt signs strategic agreement with Mömax owner

Hungaryʼs government on Thursday signed a strategic cooperation agreement with Austrian-owned MMXH Lakberendezési Kft, which owns the Mömax chain of home furnishings stores in Hungary, state news wire MTI reports.

Image by MDart10/Shutterstock.com

Speaking after the signing ceremony, Finance Minister Mihály Varga said these strategic agreements benefit both the signatory companies, which have expanded their operations in Hungary, and the SMEs, which have become suppliers to these companies.

MMXH, Europeʼs second-largest furniture retailer, has long-term plans in Hungary, the minister said. It is continuously expanding its investments as well as the range of its local suppliers. It is also involved in dual vocational training, he added.

It operates 10 MömaxX and seven Möbelix stores and has plans to open further stores in Székesfehérvár, Veszprém, Szombathely, and Békéscsaba and is building a logistic base in Nagytarcsa, near the capital, for HUF 8.2 billion.

Managing director of MMXH Hungary András Simonyi said MMXH has spent HUF 70bn on developments in the country over the past 10 years and plans to invest far more than this in the coming three-four years. The company employs 700 people.