The minister said the metal surface treatment company is expanding capacity at its base in Tatabanya (NW Hungary), increasing headcount to nearly 200, with a HUF 1.1bn grant from the government.

Mr Szijjarto noted the need for similar investments, since the continuously growing automotive and battery production capacities also require local suppliers, so that the supply chains can be as short as possible.

Dutch companies represent the twelfth largest investment community in Hungary and bilateral trade was close to EUR 12bn last year, he said.

Mutual respect characterizes the cooperation between the two countries, with a few exceptions, and we are constantly looking for cooperation opportunities, he added.

CE Glass Invests HUF 5bn in Capacity Expansion

Hungary's CE Glass 1989 has invested HUF 5bn in expanding production capacity at its base on the outskirts of Szeged (SE Hungary), managing director Gusztav Varga said.

Mr Varga said the project received HUF 2.4bn of European Union and state funding.

The project, which involved the construction of a 8,000sqm production hall, has improved automation at the plant, helped lower costs, reduced the ratio of faulty products and raised production volume and headcount, he said.

Mr Varga said that due to declining demand in the domestic construction industry, the company wants to expand sales abroad.

Exports already account for more than half of sales. Traditionally, Romania is the most important foreign market for CE Glass, and Slovakia, Austria, and the ex-Yugoslav countries are also important destinations, he said.

CE Glass 1989 had net sales revenue of HUF 5bn last year, public records show.

Meanwhile, Hungary to Acquire Controlling Stake in GySEV

The state of Hungary could acquire Austrian construction company Strabag's stake in GySEV, giving it a majority holding in the regional railway company, Construction and Transportation Minister Janos Lazar said in a post on social media.

Mr Lazar called out Hungary's earlier Socialist governments for signing contracts with the Austrians that had put the Hungarian side at an "unwarranted disadvantage".

While the state of Hungary ploughed even more money into GySEV, the Austrians failed to keep up with their part of the capital raises, while keeping their veto right, he added.

He noted that GySEV was owned by the states of Austria and Hungary, and Strabag. Austria's competition authority has now cleared Hungary's acquisition of Strabag's stake, he added.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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