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At a business conference in Zurich, Tibor Héjj provided valuable insights and practical hints for companies considering the establishment of new businesses or aiming to increase their profits by relocating their existing production facitilies. The presentation deals with infrastructure, labor force, grant opportunities, Hungary's current economic and manufacturing landscape and the current situation of Swiss companies in Hungary. The presentation also provides a short step-by-step guide on establishing a business in Hungary.
Citation preview
Zürich, 2014
Why Hungary?
2
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
3
Hungary’s central location and road infrastructure enables you to connect to your clients and suppliers cost-effectively
To Helsinki
(Finland)To Moscow
(Russia)
Hungary is at the crossroad of
four main pan-European road
transportation corridors
Neighbouring Central European
countries, Poland, Ukraine and
the Balkans are all easy to
access
Hungary has one of the highest
motorway densities in Europe
allowing easy access to all
regions and industry hubs within
the country
Hungary is also a member of the
Schengen Area enabling border
control-free travel among 26
European countries
GERMANY
THE
BALKANS
POLANDUKRAINE
RUSSIA
ITALY
Sources: HITA Investing Guide 2013.; http://en.wikipedia.org/wiki/Pan-
European_corridors
AUSTRIA
4
Hungary is connected to strategic Rail Freight Corridors (RFC) opening access to the main European ports and the East
RFC connection does not only
enable quick and cheap
transportation to and from the
neighbouring countries, but...
Direct connection to the main
European ports enables water
transportation across the Northern
Sea, the Mediterranean Sea and
the Atlantic Ocean.
Záhony is one of the few stations
which allow quick change of
freight trains when crossing the
border between the EU and the
Post-Soviet countries (this change
is necessary due to the different
rail gauge used in the Russian
region)
Záhony also connects RFC 6 to the
shortest contintental way
between China and Europe
Sources: HITA Investing Guide 2013.; Mosóczy (2013.10.09.): Changes in
Hungarian Rail Freight Market; European Rail Freight Corridors Conference
2012.
RFC 6
RFC 5
RFC 7
Athens
Marseille
Trieste
Koper
Constanta
Hamburg
Bremen
Rotterdam
GdanskTo / From:
RUSSIA
KAZAKHSTAN
CHINA
Záhony
The geographical advantages makes Hungary a popular logistics location even for companies which have no direct
production facilities in the country.
5
Hungary has excellent waterway connections, including access to the Rhein – Main – Danube canal
Sources: HITA Investing Guide 2013; www.cspd.sk/page6.php
The Canal enables cheap transportation to and from the most industrialized areas of
Germany
Goods can be transported to Switzerland and France over the
Rhine
The Canal also links Hungary to ports on the North Sea (e.g.
Rotterdam) and the Black Sea (e.g. Constanta)
The Rhein – Main – Danube Canal ( www.cspd.sk/page6.php )
6
Hungary can be conveniently reached from Switzerland by car, train and plane
High quality motorways
through Germany and Austria
Distance: 1000 km
Avg. travel time: 10 hrs
Daily direct and indirect (via
München) rail connection
(RailJet and EuroNight)
Avg. travel time: 11 to 12 hrs
Direct flights (non-stop)
Avg. travel time: 1,5 hrs
Source: Google Maps
7
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
8
▪ A well-qualified labor force is available in the country, about two-thirds of the workforce
has completed secondary, technical or vocational education
▪ Particularly strong fields: engineering, medicine, economics and science training
▪ University students regularly receive their practical training at companies - in 2012
more than 50 000 students signed student contracts with companies and acquired
practical skills through on-the-job training
▪ The renowned Hungarian universities focus on establishing partnerships with
international companies in various cooperation agreements (R&D&I, process
development, prototyping etc.) and regularly become members of high-tech clusters
(such as the IKT Cluster, managed by PMC, having the Budapest University of Technology
and Economics and the Hungarian affiliate of Deutsche Telekom among its members)
▪ English and German are the most widely spoken foreign languages in Hungary, but
knowledge of other Western European and Slavic languages is also common
▪ Due to these factors, Hungary is regularly chosen as a location to establish regional
Shared Service Centres (SSCs). So far, around 70 companies have established their
regional SSCs in Hungary (including Givaudan, IBM, ExxonMobil, GE and Morgan
Stanley). These centres employ more than 30 000 people and usually offer a wide range
of knowledge intensive services (typically finance, accounting, call centres, HR and IT).
The available Hungarian workforce suits the needs of international businesses
Sources: HITA Hungary Today 2013; HITA Investment Guide 2013;
http://www.state.gov/e/eb/rls/othr/ics/2013/204657.htm#
9
Hungary provides 90% lower hourly labor cost compared to Switzerland without compromising location or infrastructure
7.5
14.94.4
68.3
8.3
10.6
7.4
30.4
27.43.7
5.8
6.0
8.7
30.5
34.2
14.9
37.2
32.0
21.0
Avg. labor costs per hour are approx. 90% lower in Hungary than in Switzerland (EUR 7.5
vs. EUR 68.3)
Hungarian labor costs are lower than in case of EU
members with similarly central location (Austria, Slovakia,
Slovenia, Croatia)
Only Romania and Bulgaria offer significantly lower labor costs, but less than optimal location and less developed infrastructure would incur
other type of costs (e.g. transport, equipment, training)
and risks
Hourly labor costs in EU countries - source: EUROSTAT, www.bfs.admin.ch/bfs/portal
Above EUR 50 EUR 20 - 50 EUR 10 - 20 EUR 7 - 10 Under EUR 7
10
The labor law regulation in Hungary is very similar to the labor laws of other EU countries, providing a safe legal environment
▪ Regular working hours: 40 hours per
week (variable work schedule allowed,
additional premium must be payed for
shifts, night work and overtime)
▪ Annual paid leave: min. 20 days (max. 30
days, increasing with the employee’s age)
▪ Termination of contracts: mutual
agreement and unilateral notice are both
possible
▪ Mandatory minimum gross monthly
wage of unskilled workers / workers is
approx. CHF 390 / CHF 450
▪ Average gross salary of employees with
tertiary education is CHF 1200
▪ Please see the table on the right for an
overview of average gross monthly
salaries per sector
Field
Average gross
monthly salary
(CHF)
Healthcare and Social Services 610
Agriculture, forestry and fishing 660
Administration and Support 670
Construction 700
Education 830
Real Estate 830
Arts 840
Commerce 850
Logistics 870
Industry 960
Science and Technology 1 250
Finance, insurance 1 900
Sources: HITA Hungary Today 2013; Act I of 2012; www.ksh.hu
11
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
12
„VIP” package
Smaller
Hungarian
Funds
New
Széchenyi
Plan
Exclusively Hungarian
Funds
Hungarian budget sources European Union Funds
Co-financed grants &
incentivesDirect EU grants
European Agriculture
Fund for Rural
Development Program
Community
Programs
A variety of grant schemes are available for investors, provided by the Hungarian government and / or EU funds
13
Cash subsidies
» Hungarian Government
» EU Funds
Tax incentives
Low-interest loans
Land available for free or at reduced prices
These incentives can be both refundable and non-refundable and take different forms
1.
2.
3.
4.
Main types of incentives related to investments
Aid intensity depends on region (varying between 10 to 50%) and it is higher for SMEs by 10 to 20%
Sources: HITA Investing Guide 2013; Hungary Today 2013
14
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
Sources: HITA Investing Guide 2013; Hungary Today 2013
15
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Negotiation based
• Rapid procedure – grant offer even within 1-2
months
• For investments greater than EUR 10 M
• Preferred areas:
• Manufacturing
• Shared Service Centres
• R&D
• Tourism
• Certain number of new jobs must also be
created (10 to 200 based on the type of
investment)
Sources: HITA Investing Guide 2013; Hungary Today 2013
16
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• 45 companies have submitted subsidy
applications for a combined investment value of
CHF 5,6 billion
• Eligible costs include:
• Purchase of the plot
• Construction costs or rental fee
• Infrastructure
• New equipment and assets
• Intangible assets
• Investment period determined by the investor
• Commitment period: 5 years
Sources: HITA Investing Guide 2013; Hungary Today 2013
17
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• World-class scientific knowledge available
• Tradition of cooperation between Hungarian
universities and multinationals (e.g.
Telecommunications, Automotive sector)
• Eligible costs:
• Purchase of the plot
• New equipment
• Intangible assets
• Salary and contributions for new
employees
Sources: HITA Investing Guide 2013; Hungary Today 2013
18
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Eligible costs:
• 24 months’ salary and contributions for
new employees
Sources: HITA Investing Guide 2013; Hungary Today 2013
19
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Eligible costs:
• 24 months’ salary and contributions for
new employees
• Provided for both general and special training
• Aid intensity between 25 – 60%, higher in case
of SMEs
• Condition: at least 50 new jobs
Sources: HITA Investing Guide 2013; Hungary Today 2013
20
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Eligible costs:
• 24 months’ salary and contributions for
new employees
• Provided for both general and special training
• Aid intensity between 25 – 60%, higher in case
of SMEs
• Condition: at least 50 new jobs
• Additional subsidy for investments creating at
least 250 new jobs in disadvantaged or least-
developed micro-regions
Sources: HITA Investing Guide 2013; Hungary Today 2013
21
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Eligible costs:
• 24 months’ salary and contributions for
new employees
• Provided for both general and special training
• Aid intensity between 25 – 60%, higher in case
of SMEs
• Condition: at least 50 new jobs
• Additional subsidy for investments creating at
least 250 new jobs in disadvantaged or least-
developed micro-regions
• Available for establishing vocational training
facitilites and the development of the equipment
for practical training
Sources: HITA Investing Guide 2013; Hungary Today 2013
22
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
• Eligible costs:
• 24 months’ salary and contributions for
new employees
• Provided for both general and special training
• Aid intensity between 25 – 60%, higher in case
of SMEs
• Condition: at least 50 new jobs
• Additional subsidy for investments creating at
least 250 new jobs in disadvantaged or least-
developed micro-regions
• Available for establishing vocational training
facitilites and the development of the equipment
for practical training
• Primarily aimed at R&D activities
involving a broad cooperation of
companies, universities and research
institutions (e.g. clusters)
Sources: HITA Investing Guide 2013; Hungary Today 2013
23
Investments of less than EUR 10 million can also qualify
Several priorities
• Supporting R&D activities
• Creation of new workplaces
• Environmental investments
• Technological investments
Aid of small and medium-sized enterprises is a high priority!
A wide range of tender opportunities is also available from EU Funds...
... and since the 2014 – 2020 programming period has just started, the budget for subsidies is still almost intact!
Sources: HITA Investing Guide 2013; Hungary Today 2013
24
Up to 80% of corporate income tax („CIT”) normally due can be deducted for a period of maximum
10 years (beginning after the completion of the development).
Eligibility conditions:
• The current value of the investment is at least CHF 12 million (however, in certain designated areas the tax
incentive is guaranteed if the current value of the investment is at least CHF 4 million)
• The investment results in the creation of new facilities or the extension of existing facilities; or...
• ... substantially changes products or production processes (excluding investments in basic research,
applied research and experimental development); or...
• ... the investment substantially contributes to the growth of the average annual number of employees or
significantly increase the total annual wage costs
Various tax allowance opportunities are also available for investments that create new facilities or jobs
Development tax allowance1.
Tax incentives available for investments that create new jobs2.
Tax incentives are calculated based on 24 months’ salary for new employees employed within a
three-year period.
There are no limitations on the amount of the eligible costs nor the number of newly created jobs.
Sources: HITA Investing Guide 2013; Hungary Today 2013
25
An employer who employs researchers (with at least a Ph.D.) can apply a social tax allowance
regime (100%) on the gross wage up to CHF 2000 per month.
Various tax allowance opportunities are also available for investments that create new facilities or jobs
Tax allowance for researchers3.
Employing young or old people, unskilled or long-term unemployed people or mothers with young
children, the employer can apply a regime of social tax allowances (50% or 100%) on the amount of
CHF 420 each month (per employee).
Tax allowance as part of the job protection plan4.
A Corporate Income Tax („CIT”) base allowance and Local Business Tax (“LBT”) base allowance
applies to R&D activities if the taxpayer carries out R&D activities itself. The cost of R&D is
deductible from the tax bases.
Tax incentive related to R&D5.
Jobs created by SSCs may entitle the companies to obtain CIT and LBT incentives. The amount of
the allowance may be up to 12 months’ total salary expenses and contributions for newly hired
employees. The LBT base may also be reduced by HUF 1 million (approx. CHF 4000) per each
additional employee in the year they are hired.
Tax advantages for Shared Service Centres6.
Sources: HITA Investing Guide 2013; Hungary Today 2013
26
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
27
Despite the financial crisis, almost all sectors experienced significant growth in Hungary in the last few years
Source: KSH
Manufacturing, Transporting and storage and Scientific
and technical activities provide excellent entry
opportunities because of (1) a trend of growth both in
productivity and employment and (2) being among the
sectors that benefit the most from the governmental
grant schemes.
The size of the Construction sector
has slightly decreased due to the
financial crisis, but it still has an
increasing productivity and the work
force available is cheap yet
experienced.
* GVA: Gross Value Added, difference between output and intermediate consumption (calculated as GVA = GDP + Subsidies – Taxes)
Change of productivity and employment by sectors (2009 – 2012)
G
RO
WT
H Z
ON
E
Size of the bubbles: GVA in 2012
28
Growth of productivity and employment is especially dynamic in manufacturing, extending to almost all industries
Source: KSH
* GVA: Gross Value Added, difference between output and intermediate consumption (calculated as GVA = GDP + Subsidies – Taxes)
Change of productivity and employment by branches of manufacturing (2009 – 2012)
Size of the bubbles: GVA in 2012
The size of the Vehicles industry
increased by almost 50%. One of the
greatest investments was made by
Daimler AG, who selected Hungary as the
location for its new Mercedes-Benz Plant.
Availability of skilled workforce, R&D activities and
implementation of state-of-the-art technologies enabled a
significant increase in productivity – a trend that is still ongoing.
29
Hungary is regularly selected as a manufacturing location by the largest multinational companies
CHF 5.1bn
Source: Dun & Bradstreet (based on revenues in 2011)
16800 emp.
CHF 1.5bn
2300 emp.
CHF 2.2bn
8500 emp.
CHF 3.4bn
2500 emp.
CHF 2.5bn
6500 emp.
CHF 1.1bn
5200 emp.
CHF 1.5bn
7000 emp.
CHF 7.5bn
10000 emp.
CHF 3.0bn
2900 emp.
CHF 2.1bn
3100 emp.
CHF 3.4bn
2500 emp.
Legend:
No. of employees in Hungary (2012)
Revenue of the Hungarian affiliate (2011)
Top 10 manufacturing companies by revenue
30
The largest electronics manufacturers add substantial valueto the Hungarian economy through employing the local labour
force at state-of-the-art workplaces
Source: HITA
Budapest
31
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
32
Numerous Swiss companies are already present in Hungary
Legend:
Production, manufacturing
Sales, logistics
Shared Service Centre
The largest Swiss companies present in Hungary:
FMCG
Pharma
Pharma
IT (Software)
Railway Vehicles
Flavorings and Fragrances
Electromech. parts
Cables and sub-assemblies
Agriculture and tradePlastics
Constructionmaterials
Energy
Energetics and automation
Alternative energy
Construction systems
representing a great variety of industries and services
33
Not just the globals, but small and medium companies also have selected Hungary as a (primary) location for production
NOVOPLAST AG (founded in 1945) has its core
competencies in single and multi-component
injection moulding, extrusion and the assembly
and manufacture of assembly groups and system
solutions
NOVOPLAST HUNGÁRIA is NOVOPLAST’s first
and only subsidiary
Established in 1996, the Hungarian subsidiary
produces technical injection-moulded parts and
manufactures assembly groups and system
solutions
„With a well-trained team of specialists and a
modern infrastructure, NOVOPLAST
HUNGÁRIA Kft. forms an attractive addition to
its Swiss parent company, and is used in a
targeted manner for the benefit of our
customers in appropriate cases.”
(NOVOPLAST AG)
CabTec AG offers more than 10,000 customer-
specific products from single cables to the
assembly of complex cable assemblies
CabTec AG has its HQ in Rotkreuz – however,
all production is done on three production sites
abroad: two in Hungary and one in China!
Kecskemét is CabTec’s production site for high-
tech cable and industry cable with 450
employees and a local HQ.
The Szekszárd plant primarily manufactures
automotive cable assemblies and wires.
„On a floor space of 5,600 sq m with state-
of-the-art machinery, manufacturing, and
office area, 450 employees work on the
solutions for our customers.”
(CabTec AG, about the site in Kecskemét)
34
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
35
Step 1 - Preparation of corporate documents by a Hungarian Attorney-at-law. Time required: 1
day. Expected costs: depends on the attorney selected.
Step 2 - Opening of a bank account. Time required: 1 day. Expected costs: bank fees.
Step 3 - Registering the company at the Hungarian Court of Registry and obtaining a tax
identification number. Time required: 1 day (except public companies for which the process is
approx. 2 weeks). Expected costs: CHF 210 for an LLP, CHF 420 for an LLC and an Ltd. and
CHF 2 520 for a listed Plc.
Step 4 - Registration with the Hungarian tax authority, municipality, chamber of commerce and
the Hungarian statistical office. Time required: 1 day, Expected costs: free of charge.
Establishing a business in Hungary is a streamlined process that can be completed in just a few days
Starting a new
business
Dealing with Construction
PermitsRegistering Property Enforcing Contracts
Hungary 5 days 79.0 days 16.5 days 395 days
OECD 11.1 days 147.1 days 24.1 days 529 days
Benchmarked against the OECD average, the Hungarian administration allows significantly
shorter lead times for starting new businesses, facilities and enforcing contracts!
Sources: HITA, doingbusiness.com
36
1) Infrastructure
2) Labor force
3) Grant opportunities
4) Current economic and manufacturing landscape
5) Swiss companies in Hungary
6) Investing in Hungary – step-by-step
7) Our references
Agenda
37
PMC is a result- and value-oriented consulting enterprise with strong backbone of both domestically and
internationally experienced employees
• M&A (either on the sell-side
or the buy-side)
• Due diligence
• National and EU grants
• Corporate finance
Strategy
• Strategy development
(entry, exit, acquiring
expansion)
• Strategy workshops and
know-how transfer
• Benchmarking & best
practice
• Strategic due diligence
• Optimization of ownership
structure
Attracting capital
Management
• Cluster Management
• Innovation Management
• Interim Management
• Supply Chain Management
• IT controlling
• Reducing Cost
• Crisis Management
• Project Management
• Quality assurance
• Monitoring
• Top management trainings
Our services are at the cross-sections of a virtual 3D cube:
38
Despite the financial crisis, our successful projects enabled us to continuously expand our company group and provide more
and more diverse, yet synergistic services for our Clients
Established in: 2003Profile: Strategic and management consulting
Established in: 2013Profile: Attracting capital; M&A projects; financial advisory
Established: 2012Profile: Consultancy related to R&D&I, EU funds, Hungarian Grant system, tendering and incubation for startup companies
Proactive Management Consulting
(PMC)
Proactive M&A(P M&A)
Biostatisztika(„Biostatistics”)
NapraForgó Non-Profit(„Sunflower”)
Established in: 2000Profile: Support the (re-)integration of disadvantaged employees to the labor market
Swiss Company based in Zug Kanton
Established in: 1987To be acquired by PMC in 2014Profile: Swiss branch of the PMC Group, serving our Clients with our complete portfolio; also provides Trust Company services and Business incubation for startup companies (including expansion abroad)
Non-Profit For-Profit (based in Hungary)For-Profit (based in Switzerland)
While still working as Country Manager of the Boston Consulting
Group, Tibor Héjj founded NapraForgó Non-Profit to aid the
disadvantaged people in entering / returning to the labor market
In 2002 A.T.Kearney (ATK) decided to close its Budapest Office. In 2003 PMC
has been established by Tibor Héjj, former International Vice President of ATK, as a
new independent consultancy and the local representative of A.T.Kearney.
As a result of successful projects our „Attracting capital” business has
grown into an independent affiliate
under the name Proactive M&A
To serve our Swiss partners better and to strengthen our local
presence, we decided to acquire a Swiss Company
– this acquisition is currently ongoing and is
expected to be concluded in February – March 2014
In 2012 we established Biostatisztika to help our Clients taking advantage of the numerous R&D&I and
Grant opportunities in Hungary
1.
2.
3.
4. 5.
39
2013 Preparing and managing the sale of evopro group’s industrial software
development business (employing 600 Development Engineers in four countries) for
Accenture as sell-side lead consultant
2013 Conducting business analysis and preparing road show documents of a renewable
energy plant investment in Hungary for Grenor AS (Norway)
2012 Selling a branch of a private Hungarian leading company with about 100
electrical engineers to a German multinational company
2012 Selling a business line of a Hungarian IT company to the Hungarian affiliate of a
multinational company
2011 – 2012 Preparing a grant application for the National Directorate General for Disaster
Management in order to introduce the mobile dams in Hungary in flood protection.
The grant resulted in a cash subsidy of € 3.5 million; it is paid by the Swiss
Contribution fund, and it was approved by the Swiss State Secretariat for
Economic Affairs (SECO) and the Hungarian Ministry for National
Development.
2011 Market research of the Hungarian mobile-payment market and development of an
entry-strategy for the client of the Austrian Arthur D. Little
Proactive M&A
We have strong expertise in supporting our Clients in their expansion in(to) Hungary
40
2011 International investor-seeking (with the help of a ’road-show document’) during the
sales of ISVH, a leading Hungarian manufacturing company
2011 Liason in the sales of the largest (4 MW) Hungarian biogas plant (Szarvas) after its
launch
2009 Preparing the incentive strategy of the German Aurigon Life Science Group, who
founded the largest Hungarian toxicology company near Budapest. We supported
Aurigon in receiving tax allowance.
2008 Preparing a grant application for Gedeon Richter Plc the largest Hungarian
pharmaceutical company, what resulted € 3.3 million cash subsidy. The subsidy
was spent for R&D, mainly for building laboratories.
2006 Complete planning and organization of on-ground traffic of air passengers of
FlyBalaton Airport, Sármellék. FlyBalaton received cash subsidy and tax
allowance for reconstruction work and job creation.
2005-2006 Full-scope management of a Wind Power Plant investment for two Irish investor, J
J Fleming Holdings Ltd. and SWS Natural Resources Limited, from the realization
study to the acquisition of permissions, including the negotiations with the
representatives of the government on subsidies.
We have strong expertise in supporting our Clients in their expansion in(to) Hungary
41
We serve large multinational companies as well as SMEs from Hungary and abroad
Thank you for your attention!
The above information is intended to provide general guidance only. It should not be used as a substitute for professional advice or as the basis
for decisions or actions without prior consultation with your advisors. While every care has been taken in the preparation of the publication, no
liability is accepted for any statement, option, error or omission.
1126 Budapest, Szendrő u. 30.; Comp. Reg. No..: 13-09-092832;
ISO 9001:2008 Certificate Registration No.: 01 100 1319942
E-mail: [email protected]
Tel / Fax: +36 1 266 1778
Mobile: +36 30 350 0296
www.p-m-c.eu