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Plastics maker seeks new acquisitions
Monday, May 23, 2005, 00:00
Plastics manufacturer Pannonplast Rt will be focusing on expansion in the near future, CFO Dénes Gyimóthy told business daily Napi Gazdaság. With the process of restructuring now over, an acquisition is possible even before the end of the year, according to Gyimóthy. Since Pannonplast operates as an asset management company, the CFO did not exclude the possibility of an acquisition that is not directly related to plastics manufacturing. Plans are to finance the purchase from the company?s own funds and a bank loan, Gyimóthy said. This is a realistic goal, he added, since the sale of Pannonplast?s 50% stake in Pannonpipe may yield a revenue of several billion forints.
Construction industry association EVOSZ is urging the government to make funding for investments at SMEs available sooner, association chairman László Koji told state news agency MTI.
The EU remains an attractive destination for Chinese tourists, and while the U.K. is still the most popular looking at sheer numbers, Hungaryʼs 25.1% growth in arrivals in 2018 puts the country in third place in terms of relative growth, according to a press release from air travel analyst ForwardKeys.
Tesla, the American automotive company that specializes in electric cars, plans to open a dealership salon in Budapest, near Petőfi Bridge, according to a report on current affairs news portal hvg.hu.
Hungarian electronic music festival Balaton Sound has said it will rerun its so-called “Safety First” initiative, originally launched last year to help young people become more conscious and secure, according to a press release sent to the Budapest Business Journal.
Fourth-quarter after-tax profit of Magyar Telekom (MTel) rose 49% year-on-year to HUF 7.7 billion, supported by higher sales and one-off revenue from the sale of the telcoʼs old headquarters, according to an earnings report released late Wednesday, state news agency MTI reported.
Gránit Pólus Group has named Attila Prosits as its business development director, after he headed the capitalʼs WestEnd City Center mall successfully for nearly ten years, according to a press release sent to the Budapest Business Journal.
Gránit Pólus Group has announced the appointment of Simona Ioana Ion as property management director of Budapestʼs WestEnd City Center shopping mall, according to a press release sent to the Budapest Business Journal.
Wages at Budapest Airport and its subsidiaries are set to increase by 12.8% on average, as the airport reached an agreement with business councils and trade unions about base wages and bonus increases, according to a press release sent to the Budapest Business Journal.
Budapestʼs Central European University (CEU) and international network Scholars at Risk have been jointly awarded the 2019 Politiken Freedom Prize for "protecting scholars and the freedom to think, question and share ideas," according to a press release sent to the Budapest Business Journal.
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