Minister of Foreign Affairs and Trade Péter Szijjártó inaugurated an investment project on Wednesday at the Huntsman Corporation Hungary Zrt. facility. In his speech, he not only emphasized the economic significance of the project but also praised the close political ties between Budapest and Washington.
The U.S. chemical company has completed a capacity expansion worth 16.5 billion forints (42 million euros) in Pétfürdő, western Hungary. The Hungarian government supported the project with a grant of 1.2 billion forints (3 million euros). The investment secures 150 jobs in the region, said Péter Szijjártó.
The expansion now provides the company with 10,000 square meters of new production space.
This increases production capacity for specialty materials—that are primarily needed in the automotive industry as well as for insulation and energy-efficiency solutions—by 40 percent.
The Hungarian site produces almost exclusively for the global market and also plays a key role in the Huntsman Group’s global research and development portfolio, emphasized the minister.
Since U.S. President Donald Trump took office last year, Hungarian-American cooperation has been experiencing a “new golden age,” he noted. This partnership is based on the personal friendship between the two heads of state, the politician added.
“The U.S. President has personally approved the continued purchase of Russian oil and natural gas for Hungary. One must understand the paradox of the situation: while the American president allows us to use cheap energy, Brussels wants to ban it,” the minister noted in this context, referring to energy policy.
The year 2025 was an absolute record year for bilateral relations. Neither U.S. investments nor trade volume had ever before reached such high levels as last year,”
he emphasized.
Minister Szijjártó emphasized that the economic successes of the past four years would not have been possible without U.S. companies. The American business community is now the third-largest group of investors in Hungary.
Proud to join @Huntsman_Corp for the grand opening of their new facility in Pétfürdő, Hungary. This $100M investment is a prime example of U.S.-Hungary collaboration, innovation, and mutual prosperity—strengthening transatlantic supply chains for chemical solutions. pic.twitter.com/YkOZ7Ajb8i
— Chargé d’Affaires Caroline Savage (@USAmbHungary) March 18, 2026
Via MTI, Featured image: MTI/Katona Tibor
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