HungaryTrends – The week in business and finance
DYNAMIT NOBEL DEFENCE TO SET UP HUNGARIAN JV
Germany’s Dynamit Nobel Defence signed an MoU on establishing a JV in Hungary making armour and parts for armour-piercing weapons. The JV will make explosive reactive armour in the first two years while starting manufacture of parts for shoulder-launched armour-piercing weapons. The JV is slated to manufacture an entire version of Dynamit Nobel Defence’s RGW shoulder-launched weapon within five years.
BERES LAYS CORNERSTONE OF HUF 6BN EXPANSION
Hungarian pharmaceutical company Beres laid the cornerstone of a more than 6 billion forint (EUR 16.4m) expansion at its base in Szolnok, in south-eastern Hungary. Beres will add 2,050sqm to its production area and install an automated line to turn out its flagship immune fortifier Beres Drops.
OTP, MAGYAR EXIMBANK LAUNCH HUF 25BN PRIVATE EQUITY FUND
OTP Bank, Hungary’s biggest commercial lender, and Magyar Eximbank, announced the launch of a 25 billion forint private equity fund that will target businesses in the region. Investments are expected to be in the 3-15 million euro range.
POLISH-HUNGARIAN BUSINESS CHAMBER ESTABLISHED
A Polish-Hungarian business chamber, comprising 33 companies, was established in Warsaw. Among the chamber’s founding members are Hungarian-owned property developer Cordia Polska, pharmaceutical company Gedeon Richter Polska and construction company TriGranit, as well as Polish-owned office furniture company NowyStyl Hungary.
Source: MTI
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