Biznisbroker News

Jul 30, 2010

US-based generic drug maker Mylan possibly bringing drug production to Hungary

Mylan is spending EUR 67m on a packaging plant in the Hungarian city of Komárom, National Economy Ministry state secretary Zsolt Becsey said at a press conference in Budapest .

“ needs such investments and such innovations that strengthen the Hungarian economy. Those do not destroy, but undisputedly build our country based on Hungarian small and medium-sized enterprises” - emphasized State Secretary for External Trade Relations of the Hungarian Government Zsolt Becsey at the investment announcement press conference on Thursday.

ambassador to Hungary Eleni Tsakopoulos said the fact had drawn USD 9bn in FDI from American investors since 1990 was a good sign of the country's ability to attract capital. 's geographic location, its good infrastructure and its well-educated, motivated and creative work force are a draw for US investors, she added.

“After conducting a broad search for a suitable facility with the potential to expand, the opportunity in Komárom turned out to be an ideal fit,” said Mylan chief operating officer Rajiv Malik. “Not long from now, we’ll have a high quality, efficient packaging operation up and running that will be able to support our dynamic business and the local economy."

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories.

Permalink - 10:37 AM |
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HP to expand in Wroclaw, Poland

Hewlett-Packard (HP), the computer group, plans to create up to 700 new jobs at its Global Business Centre in Wroclaw over the next few years, as the facility assumes a key role in supporting decision-making processes at the group’s subsidiaries in Europe .

The Wroclaw centre, which was created exactly five years ago as the first SSC/BPO centre in the city, at present employs 1,800 staff. The decision to lift headcount to 2,000-2,500 is part of a plan, not only to expand capacity but also to introduce more advanced services. That is why HP is aiming to cast its net wider, attracting foreigners as well as Polish professionals.

Permalink - 10:36 AM |
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Business environment improves in Central and Eastern Europe

The World Bank’s for the first time evaluated business conditions in 87 countries. The report “Investing Across Borders 2010” concluded that Central and Eastern Europe has seen the highest improvement in conditions for investors.

The report looked at issues such as the influence and bureaucracies of governments when conducting business in a country. For example the report found that setting up a business in can take as long as six months and in up to ninety-nine days or longer. While compared to and , where all necessary documentation can be completed in less than 2 weeks, and in and where a business can now be setup over the internet.

According to the study nine out of ten countries don’t allow foreigners to run a business without heavy restrictions. Many governments require foreign investment approval, restricted foreign ownership and make it difficult to obtain simple permits.

The author of the study, Peter Kusek stated that, “ Eastern Europe has benefited greatly from the new laws imposed in the process of joining the European Union.” This has helped to improve the environment for conducting business in Central and Eastern Europe . Unfortunately even with these reforms, the region has experienced a loss of half of its foreign investment capital during last year, attributed mainly due to the challenging economic situation across Europe .

Permalink - 10:34 AM |
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Jul 26, 2010

One billion euro Inevstment by Italy's Fiat, EIB, and Serbian govt

Italy's Fiat, the European Investment Bank and the government in Belgrade will invest a combined 1.0 billion euro ($1.28 billion) in Fiat's joint venture with Serbia's state-owned auto maker Zastava , FAS, media in the Balkan country reported on Friday.

The EIB will lend Serbia 400 million euro towards the investment, the government in Belgrade will invest 250 million euro, and Fiat will come up with the remainder, news broadcaster b92 quoted Fiat Group CEO Sergio Marchionne as saying. He did not give a timeframe for the investment.

Fiat is moving its production of two new car models, Fiat Idea and Lancia Musa, to Serbia because the company is having trade union problems at home and because it can ensure an unhindered and guaranteed production in the Balkan country, b92 quoted Marchionne as saying.

Fiat plans to start manufacturing the two new models at once, Marchionne said, adding that the annual output is expected to amount to 190,000 vehicles. It was not immediately clear whether the output figure referred to both models or to each of them.

Fiat has invested 150 million euro in the joint venture, Fiat Automobili Srbija (FAS), since acquiring its 67% stake from the government in Belgrade in 2008, according to earlier media reports.

FAS is based in the Kragujevac, in central Serbia.

Permalink - 12:00 AM |
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