Mercedes establishes company
A few weeks after the announcement of Daimler AG that it chose Hungarian Kecskemét city (50 km south of Budapest) as the location of its first factory in the CEE region, the company has already established its Hungarian subsidiary, Mercedes-Benz Manufacturing Hungary Kft. According to the dates on the founding papers of the company, the procedure was launched at the Court of registration on June 17, one day before the official announcement of the company’s decision to choose Kecskemét on June 18. Somewhat interestingly the registered share capital of the company is the legal minimum, Ft 500,000 ($3,090).
Economist: Hungary is a worry
Britain’s Economist magazine predicts the exceptional conjuncture in the CEE region won’t last much longer. The weekly’s latest issue observes that the positive international environment was the main reason that lay behind the region’s economic growth in the past decade.
According to the analysis, Hungary is the biggest worry in the region, as it is highly dependent of the capital markets’ confidence. The magazine emphasized that the government has paid a high price for even the austerity measures that brought the economy to a standstill position. “A shaky government has done surprisingly well in restoring macroeconomic stability after the near-disastrous spending and borrowing splurge in the early years of the decade,” the paper noted.
20.08.2008