Fighting against the Covid-19 pandemic continued to swallow considerable resources.
The company opens towards the production of medical devices; following VIDEOTON Elektro-PLAST Ltd., VT ES Ltd. is the second within the VIDEOTON group to get ISO 13485 certified for the quality management of medical devices.
2021 is also a year of several anniversaries; the production site in Kaposvár celebrates its 50th anniversary, VENTIFILT in Hajdúnánás celebrates its 60th and the new VIDEOTON celebrates its 30th anniversary.
Global shortages of raw materials slowed down growth in the second half of the year, Europe is tending to become a more favoured footprint. VIDEOTON is further strengthening its business relationships in dynamic and innovative markets and customers, winning several new projects in the year, providing a positive outlook for the group. The expected sales revenue of the company achieves a record again, of 605 million EUR (220 billion HUF).
Despite the extraordinary challenges caused by the Covid-19 pandemic, VIDEOTON financial performance was a success; the group's consolidated sales revenue exceeded 556 million EUR (195 billion HUF), and the company improved its strategic position by penetrating new market segments (e.g. electromobility, mobile power, and due to collaboration with emerging startups).
Despite the global economic crisis, investments were ongoing; three quarters of the 21,1 million EUR (7.4 billion HUF) new fixed assets represented technological modernization. VT METAL Ltd. ramped up a new technology of zinc-nickel plating.
Defence against the pandemic and as part of this the health protection of our employees were of top priority.
Huge investment projects are inaugurated in Székesfehérvár: the new production hall of VIDEOTON EAS equipped with 21st century technology launches production, and in August 2019 a solar park is installed. Assembly of professional cleaning machines starts, and the first semi-automatic production line for Metabo battery-packs is completed in VT Electro-PLAST Ltd.
A year of record investment, including the construction of Videoton's new EMS production facility for VIDEOTON EAS, that is the biggest development in Videoton's 80-year history.
VIDEOTON is expanding into new business areas: the company becomes an independent player among battery pack manufacturers. Panasonic discontinues its battery pack production in Europe, and transfers most of its customers as well as the know-how to Videoton, thus VIDEOTON will be a direct supplier of battery packs for cordless power tools and consumables to many global companies.
The portfolio is completed with new premium products. The Kaposvár site launches the production of professional studio microphones and headphones under AKG brand name . VIDEOTON EAS Ltd. is growing dynamically, getting new orders for industrial electronics.
Modern Videoton is 25 years old. Foudation of Bulgarian affiliate of VIDEOTON EAS, named VEAS BG Ltd.
In parallel, there is an electronic insertion capacity increase at VIDEOTON EAS, and router manufacturing for AVM starts.
VT ES Ltd. and VT Mechatronics Ltd start cooperation with Apex Group. The country's most up-to-date KTL painting technology starts at VT METAL Ltd. Videoton ranked 52nd in the domestic TOP200, and for the first time since its existence was included in the regional (Central European) TOP500.
Tipa Ltd located in Győr, producing mainly special machines for Audi, becomes part of Videoton Group.
The company group achieves a new record revenue exceeding 150 billion HUF.
3D printing production starts for Formlabs in Székesfehérvár, involving a few member companies: the electronic components are supplied by VEAS Ltd, the machine parts by VT Metal Ltd, while VT ES Ltd produces the painted sheet metal parts and takes care of final assembly and testing. In Kaposvár starts the production of studio microphone for AKG and Li-ion battery packs for Peiker (Valeo). VT ES assembles enclosures of vending machines for Mars Drinks, using electronics produced by VIDEOTON EAS.
Videoton is able to achieve a faster pace development than the expansion of the market.
Production of LED products for Osram starts at VIDEOTON EAS Ltd. Vertical integration is further strengthened: VT ASYST Ltd. and Holding Development jointly develops about 40 automatic production machines and 15 automatic measuring systems for VIDEOTON Automotive Electricss Ltd, VT Plastic Ltd., IBIDEN, DENSO, INFINEON, FESTO, Sanmina. DZU starts production of coils for Schneider Electric.
Videoton Holding is awarded the Bisnode Trust Award among the TOP 200 companies of Figyelő.
Videoton, the largest industrial company group in Hungary owned by Hungarian private persons, is 75 years old. Its sales reaches HUF 100 billion.
Electronics assembly becomes the driving profile: the Emerson group gives VIDEOTON EAS new business. Production of premium hairdryer production for GHD is launched in Kaposvár. VT METAL increases its machine assets with a new galvanic line and two new Brother machining centers. New laser cutting machine at VT ES.
STS Group is sold, VT ASYST Ltd is founded.
Videoton is taking advantage of stability as a competitive advantage in the restarting growth.
A new plant is involved in production at VT Plastic Ltd. in order to ensure the best service to TE Connectivity. New businesses start at VT METAL Galvanic business unit: LUK clutch parts, HVCC compressor parts for air conditioning, Infineon heatsink. The production of BOSCH automotive sirens starts in Veszprém. The supply of routers to One Access from VIDEOTON Automotive Electricss Ltd begins. VT ES Ltd. starts manufacturing metal fittings for NCR automatic cash registers.
Acquisition of direct majority ownership of STS Technology Ltd. (today: VT Mechatronics Ltd.) that was formerly a member of STS Group. It is specialized in the integration of high complexity machines.
The share of the automotive industry increases in Videoton's portfolio.
Production of plastic parts for SEWS starts at VT Plastic Ltd. New projects begin with Barco, Socomec and BAG at VIDEOTON EAS Ltd. Production of shock absorber electronics for BWI begins at VIDEOTON Automotive Electricss Ltd.
Videoton opens up to new markets such as green energy, and industrial air technology. Acquisition of STS Group and Ventifilt Ltd. in Hungary.
Despite of the crisis intensive growth period starts.
Finishing of low voltage circuit breakers starts at VT METAL Ltd. for Eaton / Möller. NPI and strategic procurement activities start at VT Elektro-PLAST Ltd. Modernization of SMD insertion capacity with FUJI NXT machines (installation of 8 production lines by 2013) at VIDEOTON Automotive Electrics Ltd.
Videoton gets the Hungarian Brand Award.
IMS Ltd is established to manage the commodity turnover in the Ukrainian site. A representative office in Ukraine is opened.
To address the protracted crisis, Videoton introduces effective cost reduction and crisis management actions and starts further projects.
VT METAL Ltd. starts tin plating of metal parts for air conditioners for Delphi and the construction of two new galvanic lines. Hager moves the production of hundreds of products to VIDEOTON EAS Ltd. The purchase of the first Fuji NXT line takes place. Electrostatic powder coating technology starts at VT ES Ltd. The wire harness assembly project in Ukraine ramps up employing nearly 1,000 people.
The aim is to reach efficiency increase in the time of recession. The integration of sheet metal processing located in Törökszentmiklós in VT INFORMATIKA Ltd takes place, and so today's VT ES Ltd. is established.
Battery pack production with Sanyo restarts. The Marcali site is acquired, and a new, Ukrainian site is involved to serve wire harness assembly for AFL. GE container project is launched at VT Systems Ltd. New businesses start at DZU: KOPP electrical fittings, Liebherr refrigerator plastic parts, Legrand connectors, ABB mini circuit breakers.
BRG and Semilab go on sale, but Videoton continues to grow: automotive industry, household appliances and industrial electronics are the most important segments.
VIDEOTON HOLDING wins the Best Hungarian Company of the Year among the TOP 200 companies and VIDEOTON Automotive Electricss opens its Plant 5. Braun iron production starts in a new, 5000 m2 building in Kaposvár. Videoton becomes a supplier to Suzuki Swift.
KVJ Művek in Nagyvenyim is integrated in the Videoton group. The Group is on a growth path: sales and the number of employees continue to increase.
Strengthening the automotive partnerships remains a strategic element: automotive wire harness assembly returns to DZU. Stamped sheet metal part production for the automotive industry (Lander - later JCI) starts in Törökszentmiklós. VT Plastic Ltd also becomes a Valeo supplier. VIDEOTON EAS Ltd manufactures PCBs for Panasonic plasma TVs as well as DLP and LCD TVs for Sagem.
Following the difficulties in the previous years, Videoton is back on the growth path. First investments in bio-energy projects.
Further portfolio expansion: Saia Burgess and Visteon become partners to VT Automotive Electricss. Production of food processors for Braun starts in Kaposvár, and delivery of large series plastic parts begin for 3M. VIDEOTON EAS launches production of set-top boxes for SAGEM and of TV panels for Samsung.
The establishment of VIDEOTON EAS Ltd. and Hilase Ltd. The purchase of minority shares in RHINOLIGHT Ltd. and Holografika Ltd.
Intensive efforts are being made to put the company on a path to growth, including the development of vertical integration. For example, Videoton launches a manufacturing partnership - involving more of its member companies - with Microsense, an English company that develops traffic management systems.
The automotive industry profile is expanding: via dashboard manufacturing for Bosch VT Plastic Ltd. enters the market of automotive decorative parts. In addition, the small household appliance market is further strengthened: beauty products are launched for Braun.
The plastic injection molding plant in Veszprém is integrated in VT Plastic Ltd., thereby creating the two-site structure.
Due to the evolving crisis in the IT sector, the labour force intensive projects like consumer electronics production phase out little by little, and focus shifts to industrial electronics.
Eaton-Videoton cooperation begins and VT INFORMATIKA Ltd. starts manufacturing railway electronics for ALSTOM. VEM launches the production of electronics for Philips (Sagem) fax machines in Székesfehérvár. Continuous development of quality assurance: VT Metal Ltd and VT Automotive Electrics Ltd obtain ISO / TS 16949 certification.
VT METAL Ltd. is founded by merging galvanization and metal processing activites. Meanwhile, due to the crisis hitting the emerging IT sector, a major portfolio change takes place: labor-intensive consumer electronics and IBM products are being phased out, while household electronics gains ground: Philips iron manufacturing and hair care profile expands as Philips hairdryer production is relocated to Bulgaria. Besides, manufacturing of residential circuit breakers and wall switches for Schneider Electric also starts at DZU. Defense (military) electronics discontinues. Videoton becomes the largest independent EMS company in the CEE region, one of the top 30 worldwide, and one of the top 10 in Europe.
VDO discontinues operation in Sárbogárd, the organisation becomes part of VEM. The company continues to develop its engineering activities and its own material procurement, which results in further growth of added value. The development of DZU is in process.
Videoton starts its own electronics purchasing activities for Sony Barcelona TV panels. Production of HP office equipment plastic parts begins in Veszprém, and of Philips hair dryers in Kaposvár. The first Videoton-designed production line for Denso is completed, leading to the establishment of a new division in VT Informatika Ltd., which will later detach from the organisation as VT ASYST Ltd. Due to the several new projects, Videoton Elektro-Mechanics is being expanded and a new electronics assembly hall is under construction.
New strategy: development and product launch activities in the portfolio.
With high-technology development the first BGA insertion and testing production line is installed, paving the way for set-top-box production with Bull Electronics. Construction of the EMS building begins. Zinc galvanization of products for Visteon and chemical nickel plating for Mezőgép (today: Linemar) at VT GALVANO PLASTIC Ltd. starts.
Acquisition of BRG Lc., Semilab Lc. and DZU AD of Stara Zagora (Bulgaria), thus Videoton becomes a regional CEM company. In addition to expanding abroad, the aim is to raise the level of technology. A new service profile is being launched in the Hungarian market for manufacturing companies. Automotive product range expands: Valeo Electronics cooperation starts and VIDEOTON Automotive Electrics Ltd. launches Plant 4. Wire harness assembly operation starts also in Törökszentmiklós and Texas moves its production from Italy to Videoton.
VT Transman Ltd. is founded. New strategy: stabilization, optimization, selective and self-development. Videoton offers a complete solution including sourcing, parts manufacturing, final assembly and testing, financing and engineering. The company enters the small appliances market with the launch of Philips DAP production in Kaposvár. A stamping plant starts in Törökszentmiklós and the production of Wagner paint spraying equipment starts in Székesfehérvár. The range of consumer electronics products is expanding: VIDEOTON-Audio Ltd. launches Sony and professional Canton, Tannoy, Bösendorfer audio boxes. At Videoton's Kunhegyes site automotive loudspeakers production for Goodmans is launched.
Acquisition of the MBKE company (now VIDEOTON Elektro-PLAST Ltd., Kaposvár) as well as the sites in Törökszentmiklós and Kunhegyes. Videoton aims to provide comprehensive integrated services to its multinational partners. Sanyo battery pack assembly begins in Kaposvár, thus the company enters the battery pack market. IBM Slider factory starts operation in Veszprém. VT GALVANO PLASTIC Ltd. begins cooperation with OBO Betterman. VIDEOTON Automotive Electricss Ltd. is one of the firsts to obtain QS 9000 and VDA 6.1 certification among Hungarian auto electronics manufacturers.
Management buy out: the company is 100% controlled by private shareholders. VT GALVANO PLASTIC separates its plastic business unit, today's VT Plastic Ltd is created. The strategy is to increase efficiency. The consumer and industrial electronics portfolio grows further. Production of Kenwood car radios and Panasonic mini-audio systems starts in Székesfehérvár and of Philips mini audio speaker boxes in Veszprém. Videoton supplies Texas Instruments with engine protection switches. For the sake of capacity expansion, Videoton starts to involve new sites in Hungary, first in Jászberény.
Videoton further strengthens its strategic partner position and increases added value by expanding its services. Even though TV production is discontinued, the portfolio expands further: Videoton starts industrial electronics manufacturing for ABB and mechanical assembly at VIDEOTON Automotive Electrics Ltd. New partners join the company group in the field of consumer electronics as well. High-end CD player and video recorder production begins for Matsushita-Bosch (MB) Video.
The most important business objective is to develop horizontal expansion and vertical integration. AFL Videoton Ltd. is established. The IBM Slider project starts and production of IT components for famous multinational companies begins. Wire harness assembly activity - employing more than 1000 people - is launched in Enying and Veszprém. The manufacturing of further automotive subassemblies begins and the industrial park expands further with the move in of Closure System International.
Foundation of VIDEOTON-MECHLABOR Ltd. Intensive networking and market building work begins. Wire harness assembly for Michels starts while Mars Electronics project ramps up. Starting work with AFL will lay the foundation for a future automotive electronics manufacturing profile. Meanwhile, the Székesfehérvár site starts to transform into an industrial park: Emerson moves in.
The most important tasks are the reorganization of Videoton and crisis management. Establishment of VIDEOTON Holding Lc, and EUROTON-Elektronikai Ltd. Launch of subcontracting profile: outsourcing transfer projects are started for companies in entertainment-, automation- and automotive industry. The first electronic contract manufacturing project starts with Mars Electronics.
Privatization: The current shareholders and the Hungarian Credit Bank and Euroinvest Ltd acquire the assets of the company through a public tender.
Production in the new Videoton starts with legacy projects: the privatized company makes RCD2 precision mechanical assembly for Philips, speakers for Opel and oil pumps for SHW.