The must-have newsletter about Hungary

Related Articles

STATE ACQUIRES 20% STAKE IN ÓZD STEELWORKS FOR EUR 30M

 

The Hungarian state has acquired a 20% stake in Ózd Steelworks, in north-eastern Hungary, from Germany’s Max Aicher group for more than 30 million euros, Innovation and Technology Minister László Palkovics announced. The majority owner of the Ózd Steelworks is investing 60 million euros in the company to boost efficiency and broaden the production palette to include higher quality, more complex output, Palkovics said. The state’s acquisition of equity in the company ensures the security of the existing 500 workplaces at Ózd Steelworks and could create more jobs, he added.