HATC SAMPLE EDITION:
   Politics & Foreign Relations

   Economic News

   Business News

   Other News of Interest

   All stories


20th July, 2017

Sicta expands in Felsozsolca



French car parts manufacturer Sicta is investing Ft 3.4 billion for capacity expansion at its factory in Felsozsolca, Borsod-Abauj-Zemplen county; the Hungarian government will provide Ft 437 million from this amount, Foreign Affairs and Trade Minister Peter Szijjarto said in Budapest on Wednesday.

The expansion will create 115 jobs, Szijjarto added.

Car parts made in Felsozsolca are used by Mercedes, BMW, Audi and Porsche, he emphasized.

Sicta, a French family business, established its factory in an industrial park in Felsozsolca ten years ago. It had invested €30 million until now, CEO of the subsidiary Andre d’Ales said. The factory employs 380 workers, he added.

Sicta opted for Hungary because of its investor-friendly economic and tax policies, supportive central and local governments and skilled labour, d’Ales underlined. In addition, Sicta is co-operating with the University of Miskolc in the framework of a so-called dual vocational training. (magyarhirlap.hu; KR)
20th July, 2017

Size of Wizz Air free bags to increase



The maximum size of cabin bags that may be carried onboard during Wizz Air flights will become larger from October 29, the low cost airline said.

The current dimensions of free cabin bags are 42x32x25cm. This will increase to 55x40x23cm in the future. The weight of the free cabin bag will be limited to 10kg.

At the moment, passengers with no priority boarding may opt for a free cabin bag or one large checked-in bag which requires extra payment.

From October 29, passengers with no priority boarding will be allowed to travel with only one cabin bag, which may be heavier and of larger dimensions. (portfolio.hu; hvg.hu; index.hu; magyaridok.hu; mno.hu)
20th July, 2017

Wizz Air appoints new executives



Wizz Air appointed Stephen Jones as its new executive vice-president and deputy-CEO and will take up the position in the second half, the low cost airline announced on Wednesday. Jones will be responsible for marketing, IT and trade.

From August 1, Iain Wetherall is the new controlling head and chief financial officer for Wizz Air, who will also act as the company’s investment manager.

Also from August 1, Heiko Holm will serve as the new technology director of Wizz Air.

Wizz Air reported increasing profits for the second quarter. After-tax profits of the low-cost airline rose 50.4% to €58.1 million. Revenues went up 28.6% to €469.3 million and the number of passengers increased by 25% to 7.2 million.

The increase was mostly due to the strong Easter Holiday season. The number of airplanes in the fleet of Wizz Air reached 83, up from 70 a year ago. The seat occupancy rate also went up from 89.5% to 91.2%. (portfolio.hu; napi.hu)
20th July, 2017

Csanyi buys Buda Health Centre



Bonitas 2002, an investment holding owned by Sandor Csanyi, purchased a majority stake in the Buda Health Centre according to an application filed with the competition office GVH, Index discovered.

Csanyi purchased the controlling stake from Peter Pal Varga, who was the sole owner of the private health centre.

Earlier, Varga bought out the other owner, private fund Primus, which is owned by the family of Peter Heim and by ambassador to the UK Kristof Szalay-Bobrovniczky.

Varga financed the purchase from an OTP loan, according to rumours.

Bonitas signed the purchase contract on July 10, which still requires approval by GVH.

According to health business experts, the Buda Health Centre sees growth potential in sports health care. Csanyi is the head of the Hungarian football association MLSZ, while Varga is the president of the medical committee of MLSZ.

Building No. 4 of the Buda Health Centre is said to likely be converted into a sports science centre, modelling itself on similar institutions connected with football clubs Barcelona and Borussia Dortmund. (index.hu; napi.hu; portfolio.hu; 444.hu; mno.hu)
20th July, 2017

Balaton sites sold far below target



Assets of the bankrupt camping site Zala Kemping in Keszthely were sold to Standful Property at an auction for Ft 250 million, well below the Ft 879 million target price, business weekly HVG learnt.

The purchasing company was recently founded by Mark Czeh-Toth, a business partner of Endre Hamar, the childhood friend of Istvan Tiborcz, the son-in-law of the prime minister, HVG highlights.

The camping site Strand Kemping in Balatonakali was sold recently to a company owned by Felcsut mayor Lorinc Meszaros, for Ft 372 million, below the target price of Ft 800 million, HVG recalls.

The company Zion Europe, a member of the Konzum group owned by Meszaros, purchased the 3.6 hectare camping site. (index.hu; hvg.hu; napi.hu; index.hu; 444.hu; mno.hu)
20th July, 2017

Waberer’s sues truck manufacturers



Waberer’s International sued several European truck makers, the haulage company announced on the Budapest Stock Exchange website.

Last summer, the European Commission found that MAN, Volvo/Renault, Daimler (Mercedes), Iveco and DAF had illegally formed a price cartel between 1997-2011 and the EC fined them for these activities.

The excessive pricing also resulted in Waberer’s suffering unnecessary losses, the transportation company argued. Waberer’s had purchased and leased thousands of trucks during that period, the company underlined.

Waberer’s asked for the contribution of independent experts to asses losses due to excessive pricing. (napi.hu; portfolio.hu; hvg.hu; index.hu; nepszava.hu)


Contact Free Trial Subscription