Business
Mercedes expects green light in October
Monday 9:51, September 28th, 2009
Germany’s Mercedes-Benz Manufacturing Hungary Kft is expecting to have in its possession all necessary authority clearances to start construction of a major car factory in Hungary’s Kecskemét by early October, city officials told the daily Napi Gazdaság.

Works on the HUF 200-billion plant expected to create 2,500 jobs has already commenced, with the winner of the related tender Duna Aszfalt Kft having started work on preparing the area.

Nonetheless, local prospective vendors will have to wait a little longer to see their business swing upwards because of the investment since the car model to be brought to Kecskemét is currently made in Germany, hence Mercedes-Benz will rely on partners from home in the initial period of production in Hungary. Locals say they may expect to be involved in the supply chain in 2013 or 2014 the earliest when the manufacture of a second model commences. (Napi Gazdaság)

Portfolio
  • 24H
  • Most popular
  • Stories of last week
  • BUX
  • FTSE
  • NASDAQ
  • NIKKEI
  • DOW
Contemporary Art - Order now!
ADVERTISEMENT

Gov't transfers cash to Malév, preventing aircraft repo

15:36, Sep 2 | The government has transferred HUF 5.7 billion to national carrier Malév to prevent the repossession of some of its aircraft by a US leasing company, business weekly Figyelő said in its fresh issue on Thursday.

JKX Oil and Gas acquires stakes in Hungarian field

15:02, Sep 2 | The UK's JKX Oil and Gas has agreed to acquire minority stakes in a field in Hungary, the company said in an exploration update on Thursday.