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9th September, 2021

State control over Dunaferr ends

The Budapest Court of Appeals has removed Dunaferr, the troubled steelworks in Dunaujvaros, from control of state receiver Nemzeti Reorganizacios Nonprofit (NRN).

The court appointed NRN as a receiver in a bankruptcy procedure on June 22 and decided to end it on July 22, a decision that entered into force on August 11.

The state sold its minuscule stake in Dunaferr in August, making it possible to end the stewardship of the state receiver.

London-based website Argus Media wrote on August 18 that Russian metal industry giant Metalloinvest had expressed interest in purchasing Dunaferr.

Employees of Dunaferr will receive their monthly wages in one payment from December, replacing the present practice of two payments in a month, website 24 reports. (index.hu; portfolio.hu; 24.hu)
9th September, 2021

NetPincer becomes Foodpanda

NetPincer will change its name to Foodpanda from October, CEO Zoltan Patai of the food delivery service’s operator Delivery Hero Hungary announced on Tuesday.

Both the Netpincer and Foodpanda brands are owned by Germany’s Delivery Hero group, so there is no change of ownership and the essential elements remain the same.

NetPincer, founded in 1999, became part of the Delivery Hero group in 2016. The group intends to unify its brands under the Foodpanda name in various countries.

Patai said technological innovations will arrive in Hungary faster, and domestic users will be able to use the same standard mobile app across several countries.

He said Foodpanda will grow and expand in Hungary and will create hundreds of jobs by investing billions of forints. (index.hu; hvg.hu; napi.hu; telex.hu; portfolio.hu; 24.hu)
9th September, 2021

Wing to erect HOP Passage office building

Wing will build the office building HOP Passage in the Hungaria Office Park, the former Siemens property on Hungaria korut, the property developer announced on Wednesday.

The A+ category, five-storey, 32,000m2 building will be opened at the end of 2023 with parking space for 376 vehicles.

Wing purchased the former Siemens site in Budapest’s 14th District in 2018 and renamed it Hungaria Office Park in the summer of 2021.

It first renovated the tallest building, now called Gizella Loft.

Wing will renew the existing buildings and erect new ones in the area, increasing the total space to 65,000m2 with 1,000 parking spaces, said chairman and CEO Noah Steinberg. (portfolio.hu)
9th September, 2021

Budapest Airport investments reach €200mn over 2.5 years

The total value of investment projects realised at the Liszt Ferenc International Airport has reached €200 million over the last two and a half years, operator Budapest Airport announced on Wednesday.

In the first half of this year, five taxiways were renewed, including a complete surface replacement and improved public lighting on one of the service roads. The construction of a new 8,000m2 hangar has also begun.

Budapest Airport suffered a €110 million loss last year, as revenues shrank by 65% from the previous year to €118 million.

Despite the sharply falling revenues, Budapest Airport has decided to continue its airport development programme and has even brought some projects ahead of schedule to utilise low passenger traffic.

The airport will open its new 440m2 main hall within weeks. (portfolio.hu)

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