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Business in Hungary

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Electrifying the market

Locked away behind the Iron Curtain, Eastern Europe was not only cut off from the rest of the world culturally but also technologically. In so many key progress parameters, such as production efficiency, quality standards and technical advances, the countries of the old Eastern Europe lagged far behind their Western European counterparts. However, companies like VIVBER Kft. in Hungary have worked hard to close the technology gap. Today, they are able to operate according to EU standards and compete successfully in a reunited Europe thanks to their lower cost structures.

Interview with István Tóth, Managing Director of Váll-Ker Kft.

Home is where the hearth is

There is something primeval and comforting about a real fire that means people continue to install wood-burning stoves in their homes, even though their heating needs are now more likely covered by a central heating system. Stoves are now regarded as a decorative add-on rather than a primary heat source and this change in perception presents stove manufacturers with new challenges. Managing Director of Váll-Ker Kft., István Tóth, talks about why, at 72, he is still happy to go to work.

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Facing challenges in the shipping industry

The Danube is the longest river in Hungary and flows through the entire country. With the opening of the Rhine-Main-Danube Canal in 1992, more and more ships from Germany and the Netherlands came to pass the Danube, and the Hungarian ocean and inland shipping companies have faced increasing competition ever since. Trafalger Kft., based in Budapest, has been operating in the competitive market since 1994 and found a way to win customers, convincing them with flexibility, reliability and the ability to adapt its services to the requirements of the market.

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Entertainment is in the stars

One of the most popular hobbies today is watching television. A plethora of channels on digital, cable and satellite offer everything the heart desires: cooking programs, reality TV, hard-hitting documentaries, comedies and much more. Though Hollywood is the number-one address for TV programming, it is not the only one. TeleMedia Első Magyar Telemarketing Szolgálat Kft., located in Budapest, proves that shows do not have to come from California, and thanks to its astrology programs, more entertainment is in the stars.

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A true multi-talent

The scope of activities is simply overwhelming, as is the number of 5,000 employees in Hungary and beyond. It is hard to describe in a simple phrase what Jász-Plasztik Ltd., headquartered in Jászberény, stands for. As Jászberény is well known as the center of the injection moulding industry in Hungary, it does not come as a surprise that Jász-Plasztik is primarily concerned with plastic processing. Likewise, the Hungarian company is involved in toolmaking and battery production, making it the forerunner in certain industries.

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Enjoy the ride

The automotive industry has seen some rough times over the past few years. Several carmakers shut down for good while others experienced extreme downsizing. With financial crises and consumers in a pinch for credit, the numbers of new cars being purchased also dropped dramatically. Though these challenges have not completely subsided, one name in Hungary is managing to come out on top. Porsche Inter Auto Hungaria Kft. has proven that growth is possible in spite of a challenging economic situation. Having taken root just after the fall of communism, the group of car dealerships has witnessed success throughout its lifetime.

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