HIPA thanks biggest investors at annual awards ceremony

Pharma

The Hungarian Investment Promotion Agency (HIPA) recognized some of the biggest investors in Hungary at an annual awards ceremony late Wednesday. HIPA presented Investors of the Year 2017 awards in eight categories, state news wire MTI reported.   

German-owned Thyssenkrupp Components Technology Hungary was acknowledged for the biggest greenfield investment. This year the company will start making overhead camshafts and power steering in Jászfényszaru, east of Budapest, and manufacturing coils and stabilizers in Debrecen, Hungaryʼs second city. Thyssenkrupp already has a competence center in Budapest and a drivetrain factory in Győr (NW Hungary).

MOL Petrochemicals was recognized for the biggest expansion of the year, a nearly EUR 1 billion plant in Tiszaújváros (NE Hungary) that will make parent company MOL the only integrated polyol producer in the region.

German-owned automotive industry supplier ZF Hungária was presented the award for most jobs created. The company is spending almost EUR 100 million on an expansion at its base in Eger, creating 770 jobs by 2019. About 1,000 people work at the base at present.

HIPA awarded BlackRock Hungary the prize for center of excellence investment. Headcount at the companyʼs international technology and innovation center in Budapest reached 260 within twelve months, supported by recruiting events organized in London and Frankfurt to lure Hungarian experts working abroad back home.   

Itron Labs was presented the award for R&D investor of the year. Itron units Itron Labs and Ganz Mérőgyár have selected Budapest as the location for a HUF 2 bln R&D and software development center, which will have a staff of 100.

The Zalaegerszeg Science and Technology Park was named Industrial Park of the Year. The park is home to a self-driving vehicle test track the government is building.

Pata József Mechanical Engineering was acknowledged as Hungarian supplier of the year. The 30-year-old company is one of the biggest local suppliers to Japanese carmaker Suzukiʼs plant in Esztergom, north of the capital.

The local unit of German carmaker Audi was awarded a special prize in recognition of more than EUR 8 bln invested at its base in Győr  over the past 25 years.   

"When it comes to investment promotion and FDI, we put emphasis on the added value of the new jobs created, and bringing new technologies to Hungary," said HIPA President Róbert Ésik.

HIPA was instrumental in getting businesses to make 96 investments in Hungary with a combined value of EUR 3.5 bln last year, noted Minister of Foreign Affairs and Trade Péter Szijjártó. The investments created more than 17,000 jobs, he added.

ADVERTISEMENT

More Romanians at poverty risk since the COVID pandemic Analysis

More Romanians at poverty risk since the COVID pandemic

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.