05 COMPANY BRIEFS

company briefs

CORONAVIRUS INFORMATION FROM VODAFONE

Two important novel features have been added to the LifeSaver application operated by the Vodafone Foundation and the National Ambulance Service (OMSZ) in Hungary. One of these is the Coronavirus Information button, which takes users to the Hungarian government’s official coronavirus information site, making it directly accessible from the app. The other useful innovation is that the application can now send the most up-to-date, essential information to its users in push messages or notifications. “At Vodafone Hungary, we are working to support Hungary in the extremely difficult situation caused by the coronavirus pandemic in every way we can. In such times, being wellinformed is of paramount importance; we want to help both the authorities and the public with this. We encourage people to download the LifeSaver app both for themselves and their loved ones, if they haven’t already done so," Dr. Gergő J. Budai, Director of External Affairs at Vodafone Hungary said. Push messages pop up on the screens of smartphones and come from other applications, in this case from the LifeSaver app. Their advantage is that the user receives these important messages even when the application is not open on their phone or they are not using their handset. The National Ambulance Service recommends that everyone authorize these notifications that send important messages and warnings to users. The primary purpose of the application, launched in January 2020, is to allow people to call for help faster and more efficiently. Through this application, the user can upload health information in advance, which is instantly displayed on the monitor of control room staff when the emergency call is made. And its super-accurate positioning system helps emergency crews find the person in trouble fast, even if they cannot provide an exact address.

MAGYAR TELEKOM LAUNCHES COMMERCIAL 5G SERVICE

Magyar Telekom has begun its commercial 5G data transmission service. Initially, it is available in certain parts of Budapest and Zalaegerszeg, SW Hungary. 5G technology, allowing data transmission rates significantly higher than earlier, low latency, and the connection of a vast amount of network devices opens up a number of new possibilities for residential and industrial use, the company says. Telekom‘s commercial 5G service is operating within the 3.6 GHz frequency range. Similarly to the 2G, 3G, 4G technologies, Ericsson Hungary was Magyar Telekom‘s partner in constructing the 5G stations operational upon commercial launch. “Magyar Telekom has for long been preparing for the introduction of 5G transmission, we have been investigating the technology and the embedded opportunities for years now, and have also Due to the coronavirus pandemic, the Gál Tibor winery in Eger, east of Budapest, has lost all its sales channels: restaurants, wine bars, wine stores are all closed down and the restaurant, which served guests and direct sales is, of course, no exception. “However, life must go on,” winemaker Tibor Gál says. “Spring is here; buds and shoots have appeared on the vines. To cultivate our vineyards, to harvest the grapes and to survive the intervening period, we need financial resources. This is why we have come up with the idea of Wine Bonds.” For the owners of the winery, it is of utmost importance to remain loyal to their employees in these hard times and to provide a living for those working in their offices, in catering, in the vineyards and in the cellar. The Tibor Gál Wine Bond is, obviously, not official security but a kind of pre-financing of a future service, a voucher if you like, the winemaker says. It functions like securities with due guarantees, interests and it is transferable. However, redemption and interest payment will be in wine and treats. The bonds could be a vital contribution to the winery’s survival. The Tibor Gál winery looks back to a history of 27 years and the owner is hoping to run the estate for at least another 27 years. Income from the sale of the bonds will be used to pay their employees.

JYSK DISTRIBUTION CENTER TO BE SET UP IN HUNGARY

The international furniture and home retail chain JYSK has announced that it will build a distribution center in Ecser, southeast of Budapest, to provide stores with goods in countries of East Central Europe and the Balkans. Due to this investment worth EUR 200 million, the Danish furniture company will create 300 new jobs. Following the opening of its first shop in Denmark in 1979, JYSK founder and owner Lars Larsen opened its first store abroad in the neighboring Germany. Today, JYSK has as many as 2,800 stores in 52 countries worldwide. Furthermore, the Queen of Denmark allowed JYSK to use the designation 'official supplier of the Danish Royal Court'. This recognition is only awarded to credible, economically reliable, reputable companies and individuals who have cooperated with the Royal Court for many years. JYSK has been present in Hungary since 2004, with its headquarters and 16 sites located in Budapest, it currently employs more than 770 people in total. As a result of the latest investment that was announced this April, the regional logistics distribution center in Ecser will supply stores in seven countries (Hungary, the Czech Republic, Slovakia, Slovenia, Croatia, Serbia, Bosnia and Herzegovina) with goods. The 140,000 square meters building will have a capacity

WINE BOND ISSUED TO SURVIVE PANDEMIC CRISIS

of 205,000 pallets and is scheduled for completion in 2022.

been operating a test network for the past six months. Thanks to this, a few days after the announcement of the results of the successful frequency bidding, we can launch our commercial 5G service. 5G technology, allowing for data transmission rates significantly higher than earlier, low latency, and the connection of a vast number of network devices shall open up new possibilities for industrial use as well as in the everyday life of people. Relying on the newly obtained frequencies, we can further develop our key mobile network infrastructure, according to our plans, by the end of the year, we will further increase our 5G regional coverage, to make the newest generation of mobile technology available to an increasing number of subscribers,” Magyar Telekom CEO Tibor Rékasi said.

company briefs

UNICREDIT BANK: FASTER PAYMENTS FOR ITS SUPPLIERS

UniCredit Bank supports its domestic suppliers by speeding up the payment of their invoices and settling them immediately after the usual checks. This significantly speeds up the invoice payment process and ensures that payments are made earlier than the 30 days deadline specified in the contracts. The acceleration of payments introduced by both UniCredit Bank and the UniCredit Group will further support businesses in their working capital management. “We believe that this decision will have a direct impact on thousands of suppliers of our bank and the entire UniCredit Group. By bringing payments forward, we are increasing liquidity in the real economy at a time when it really matters. As always, we strive to be reliable partners for our suppliers and encourage them to do the same among their own suppliers,” according to Balázs Tóth, President and CEO of UniCredit Bank Hungary Co. Ltd. UniCredit Bank will continue to monitor the situation and always act in the best interests of those involved in its operation, the statement adds. C M Y inevitable, according to a statement by the facility's management company Budapest Airport. The document says that since the beginning of the crisis, Budapest Airport Co. Ltd. has taken all possible measures to protect jobs. However, employee lay-offs of the BUD group became inevitable in the interest of the K long-term and efficient operation of the company and the protection of the remaining jobs. The coronavirus pandemic is exerting drastic impacts on the aviation industry all over the world. In April 2020, the busiest European airports all registered a loss of traffic of around 90% and airports with a similar traffic volume to Budapest generally saw traffic decrease by 99%. Traffic at Ferenc Liszt International Airport decreased by 99.3% in April, compared to April 2019. While an average of 44,000 departing and arriving passengers went through the airport per day in April 2019, this number barely reached 275 in April 2020.

S2G TO SET UP CENTER IN BUDAPEST FOR EUROPEAN EXPANSION

The US business service provider Support Services Group (S2G) has established its first European unit in Budapest. It offers customer support in five languages from Hungary to a leading US streaming service company that entered Europe recently, covering eight countries. With its headquarters in Waco, Texas, S2G offers a wide range of business services to more than 60 partners, from classic service center functions to professional B2B business services and its own CRM system. The group currently employs nearly 4,000 people in 11 customer service centers in the United States, Mexico, the Dominican Republic, Canada and now Hungary. The management of S2G chose Hungary as the location of its European center because of its economic and infrastructural conditions, according to report by the Hungarian Investment Promotion Agency (HIPA). The new service center currently employs 250 people, but the staff number is expected to reach 300 this year, supporting the operation of the leading streaming service provider in Europe. The Hungarian project is in accordance with the growth strategy of S2G to further strengthen its European presence. In Hungary, there are currently some 120 business service centers in operation, providing jobs to over 55,000 people. The hubs primarily provide financial, IT, HR and customer service support regionally and globally. Simultaneously with the shift to higher value-added activities, the so-called hybrid centers and centers of excellence are becoming more and more common in addition to traditional models.

SWISS FIRM TO PRODUCE SOLAR PANELS IN HUNGARY

Flisom, a developer and manufacturer of photovoltaic (PV) thin film solar cells, located near Zurich, Switzerland, has chosen Kecskemét, southeast of Budapest for the location of its first plant of industrial capacity. The Swiss technology company is going to produce ultra-thin, light and flexible solar cells using the most modern technology available. The 50 MW plant, which will be built by an investment worth approximately EUR 40 million, is going to serve the rapidly growing market demands, while also creating 140 new jobs. The Hungarian government is to provide a cash subsidy of about EUR 11 million, some 28% of the investment costs. Flisom AG was established by the Laboratory of Solid State Physics of the Swiss Federal Institute of Technology, Zurich (ETH Zurich) in 2005. The company’s industry-leading product is eFilm, which is essentially a ‘solar cell film’ in which the solar panels are already ‘printed’ on an ultra-thin layer of plastic film. As the market leader in Switzerland, Flisom uses proprietary technology to design flexible solar panels for production that are 98% lighter than the others available on the market. These light and flexible panels can be applied to different surfaces due to their nature, such as lightweight roofs, building facades or other curved surfaces. Therefore, their solar cells are used in the construction, automotive, aviation and space industries, among others. In a video message played at the announcement of the investment, Flisom CEO Rahul Budhwar stated that Hungary and Kecskemét were chosen from among the possible locations around the world because of the outstanding talent of Hungarian engineers and

BUDAPEST AIRPORT FORCED TO LAY OFF EMPLOYEES

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Ferenc Liszt International Airport lost more than 99% of its passenger traffic in April, due to the crisis

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caused by the coronavirus pandemic and therefore, headcount reduction of employees has become

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skilled workers and the significant support by the Hungarian government. Diplomacy-n-Trade.ai 1 2017. 02. 27. 11:22:30