HungaryTrends – The previous week in business and finance

See below MTI’s main business and financial news from the previous week (completed with further DNH news):

HUNGARIAN COMPANY WOULD CREATE AN ENCRYPTED “FACEBOOK”

Tresorit’s new idea, the Prevaat is a groundbreaking conception because it would encrypt data end-to-end. This means that not even the site operators could see anything of it, not to mention selling the information, as Facebook does. Tresorit already started a public funding. Read more HERE!

NEW BATTERY PRODUCTION PLANT TO BE CONSTRUCTED IN MISKOLC

Japanese battery manufacturing specialist GS Yuasa is constructing its first factory in Europe in Miskolc’s southern industrial park; the foundation stone of the new facility, which will be completed by 2019, was laid on Wednesday.  Read more HERE!

MODINE INAUGURATES EUR 19.8 M EXPANSION IN NORTH-EASTERN HUNGARY

The Hungarian unit of US-based automotive company Modine Manufacturing inaugurated a 6.2 billion forint (EUR 19.8m) expansion at its base in Mezőkövesd, in north-eastern Hungary, on Tuesday. Read more HERE!

MOL INAUGURATES USD 15 M GAS PROCESSING PLANT IN PAKISTAN

Hungarian oil and gas company MOL’s Pakistani unit inaugurated a 15 million dollar gas processing plant near Kohat, in the north of the country. The plant was commissioned in December to process gas from the Tolanj X-1 and Tolanj West-1 gas wells. The wells are in the TAL block, which MOL operates. Read more about MOL’s investments HERE!

STADLER TO SPEND EUR 32 M ON CAPACITY EXPANSION IN EAST HUNGARY

Swiss rolling stock maker Stadler announced plans to double capacity at its train body and bogie plant in Szolnok, in eastern Hungary, with a 10 billion forint (EUR 32m) investment. The expansion will be implemented at the site of a former sugar refinery in the city.