Corporate

The government scheme for aiding investments that boost energy efficiency in factories has awarded a total of 27.5 billion forints to 25 companies so far, Peter Szijjarto, the minister of foreign affairs and trade, said on Wednesday.

Finance Minister Mihaly Varga inaugurated Hungarian medical equipment maker Medicor Elektronikai's 1.3 billion forint (EUR 34.8m) production and development hall on Tuesday, and said the government-supported investment would create 50 jobs.

Liberty Steel has submitted the winning offer in a procedure to sell the assets of troubled Hungarian peer Dunaferr which went under liquidation, the Economic Development Ministry said on Tuesday.

Hungary's economy and work force provide a good environment for Audi's further development, Finance Minister Mihaly Varga said on Tuesday, after meeting the car manufacturer's executives in his office in Budapest.

A new plant by soft drink maker Hell Energy planned in Azerbaijan with the cooperation of a local investment fund will create a new economic link between east and west, Foreign Minister Peter Szijjarto said on Monday.

Hungary's MOL Group announced on Friday the close of the acquisition of Slovenian peer OMV Slovenija, becoming the second biggest oil and gas company in the country in cooperation with Croatia's INA.

Special flooring maker Graboplast on Thursday inaugurated a 1.1 billion forint (EUR 3.0m) 2,400sqm SPC (Stone Polymer Composite) flooring plant at its base in Tatabanya, in western Hungary.

Chinese electric vehicle maker BYD is building a 10 billion forint (EUR 27.1m) battery assembly plant in Fot, near Budapest, Peter Szijjarto, the minister of foreign affairs and trade, said in Shenzhen on Wednesday.

Hungary's Magnus Aircraft is slated to start building its first production plant in Wuxi, near Shanghai, in July, while a showroom will be ready within six months, the company said on Wednesday.

Agreements have been reached with two Chinese companies on their investments worth a combined 35 billion forints (EUR 94.7m) in Hungary, Peter Szijjarto, the foreign affairs and trade minister, said in Tianjin, in northern China, on Tuesday.