HIPA awarded the most significant investments in 2017 - VIDEO REPORT

HIPA awarded the most significant investments in 2017 - VIDEO REPORT

Investors of the Year 2017

Automotive giant companies and their domestic suppliers, global market-leader financial and software developers and the largest Hungarian company - they are the winners of the 2017 "Investor of the Year" award. Most of the companies among the 7+1 prize winners have been active in Hungary for decades and have decided on a new major expansion, but there are two global players on the list who have chosen Hungary to be their regional development center.

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All previous results were exceeded by the Hungarian Investment Promotion Agency (HIPA) in 2017: following the 71 positive investor decisions made in 2016, last year 96 decision-making processes resulted in EUR 3,512 million investment and creation of 17,021 jobs. The number of projects significantly increased compared to last year indicating that projects with fewer investment and less staffing but requiring new technology, better qualification and expertise have become the focus.

Another important trend is that as in previous years, two-third of the projects were reinvestments or expansion, i.e. the development of a company already established in Hungary, while one-third of them are newcomers to the country in 2017. This is an excellent indicator that market players are satisfied with the domestic economic environment and the operation and efficiency of the Hungarian entity, so they reinvest their profits in Hungary.

It is our clear objective, based on last year's tendencies, to further increase the proportion of "Invented in Hungary" investments among the projects. This means that when it comes to investment promotion and FDI, we put emphasis on the added value of the new jobs created, and to bring new technologies to Hungary

- added Róbert Ésik, President of HIPA.

Companies executing the most significant investments of the previous year are recognized at the annual Investor of the Year Gala, organized by HIPA for the 7th time this year. The agency awarded companies whose investments were the best among the best in the given criteria in 7+1 categories based on 2017 results.

In addition to encouraging the investment and reinvestment of large companies, HIPA pays particular attention to the comprehensive development of the investment environment by supporting the supplier role of Hungarian small and medium-sized enterprises and preparing investment venues for large investors, therefore two categories of the prizes are specifically designed to recognize domestic stakeholders. A special prize was awarded to a company that has been present for a quarter of a century and continues to expand its activity in Hungary. All the awards were handed out by Péter Szijjártó, Minister of Foreign Affairs and Trade and Róbert Ésik, President of HIPA.

Investors of the Year 2017 award winners

Largest Greenfield Investment:
thyssenkrupp Components Technology Hungary Kft.
Thyssenkrupp has long-term plans in Hungary, accordingly it continuously expands its activity. Besides the German group's competence center in Budapest and the drivetrain factory in Győr, production can start in two further units in 2018: overhead camshafts and electro-mechanical power steering will be produced in Jászfényszaru and the 18,000 square meter Debrecen site will be manufacturing coils and stabilisers.

Business Expansion of the Year:
MOL Petrochemical Zrt.
The largest Hungarian investment ever carried out by MOL Group in Hungary: the petrochemical business of the company builds a complex chemical plant - valued nearly EUR 1 billion - in Tiszaújváros. The creation of the 21st century, environmentally friendly petrochemical complex for producing polyether polyols as plastic raw materials is an integral part of the Group's 2030 strategy, which will make MOL the only integrated polyether polyol producer in Central and Eastern Europe. Polyether polyols are highly in demand ingredients in plastic raw material production. Demand for polyether polyols in the automotive, construction and furniture industries is constantly increasing.

Company of the Year for Job Creation:
ZF Hungária Kft.
One of the world's largest automotive suppliers, the German ZF invested nearly 100 million euros in expanding its Eger site, resulting in 770 new jobs being created. The ZF Drive Technology Unit, Car Powertrain Technology - "Car Division", is expanding in Eger. Manual and automatic gearboxes have been manufactured for commercial vehicles in the manufacturing unit since 1996. The determining factors of ZF's decision were the decades of experience in gearbox manufacturing, the best experts and excellent infrastructure. The company almost doubles the number employees – currently 1000 people - with the investment by 2019.

Center of Excellence Investment of the Year:
BlackRock Hungary Ltd.
The world's largest investment manager firm has chosen Budapest as the location of its newest international technology and innovation center. The quality of work played a key role in the decision: Hungarian talents' way of thinking in addition to skills. BlackRock organized networking events for recruitment purposes in London and Frankfurt to attract Hungarian experts from abroad to Budapest. Reaching a headcount of 260 within 12 month shows that the Hungarian unit has made it to an important part of BlackRock's network in just a year.

R&D Investment of the Year:
Itron Labs Ltd.
The subsidiaries of Itron Inc., Itron Labs Ltd. and Ganz Mérőgyár have selected Budapest as their R & D and software development excellence center for energy, water and smart city solutions.
The US company's HUF 2 billion investment creating 100 high value-added jobs is the first in the line to take place with R & D funding that can also be granted in Budapest thanks to the modified incentives system.

Industrial Park of the Year:
Zalaegerszeg Science and Technology Park
The Europe-wide unique Zalaegerszeg industrial park, providing a home for a vehicle testing site finished in 2 years, was the first to obtain the Science and Technology Park title in the country. Further developments and investments are promoted by an intermodal container terminal with port and rail connections near the industrial park, which enhances the logistic availability of the western part of the country and helps to attract more investors.

Supplier of the year:
PATA JÓZSEF Mechanical Engineering Ltd.
Pata József Gépipari Kft. celebrated the 30th anniversary of its foundation in September 2017. The company in Fajsz is one of Suzuki's largest domestic partners since the Esztergom factory started its operation in 1992 and has been awarded the title supplier of the year at MSC for ten times. The business started from the garage of the family; today it has more than 100 employees working on more than 26 thousand square meters. They produce 150 types of pressed, welded, surface-treated components for the automotive industry using the latest technology for the most modern cars. They deliver body panels in smaller quantities to Opel and Ford besides Suzuki.

Investor of the Quarter-century (special prize):
AUDI HUNGARIA Zrt.
Since its foundation in 1993, Audi, with its more than 8 billion euros in total investment volume, has grown into the largest foreign investor, largest manufacturing company, one of the largest exporters of Hungary and a major integrator of the Hungarian supplier market. With its annual capacity of 2 million units, it is currently the world's largest engine plant and the producer of A3 and TT models. In addition, Audi Hungaria places strong emphasis on engine and vehicle development. The first pure electric model's motors are manufactured in Győr from 2018 and the factory's new model range includes the Q3 from 2018 and the Q4 from 2019.