Magyar Államvasutak Zrt. (MÁV – Hungarian State Railways) is taking over Dunakeszi Vasútgépész Járműjavító és Járműgyártó Kft. (rail vehicle manufacturing and repair company), thereby rescuing the companies of the Magyar Vagon group that had fallen on hard times. The change of ownership is currently being registered, with the application having been submitted on New Year’s Eve, 24.hu reports.
At the end of November 2025, János Lázár, Minister of Construction and Transport, announced at a press conference in Szolnok that MÁV would buy into Dunakeszi Járműjavító, putting an end to the company’s turbulent fate after a long period of uncertainty.
The acquisition of the company is of strategic importance, as in August
the government classified the maintenance of wagon production in Dunakeszi as a matter of national economic interest due to the Russian-Ukrainian war.
The manufacturing company belongs to the Magyar Vagon Group (previously Ganz-Mavag).
Another company in the group, Ganz-Mavag International Kft. (GMVI), together with Russia’s Transmasholding (which has a 64.9 percent stake in Dunakeszi Járműjavító), won an order for 1,350 passenger coaches for Egypt in 2020.
Then, when the war broke out, problems began: Transmasholding was forced out of the project due to war sanctions.
As Világgazdaság reports, the Dunakeszi vehicle manufacturer was then only able to continue production at a considerable loss, and by October, the situation had deteriorated to such an extent that GMVI executives wrote a letter to their business partners stating that they were unable to meet their existing obligations to Dunakeszi Járműjavító.
The company’s financial situation has been deteriorating for years: last year, it posted net sales of HUF 46.135 billion (EUR 120.3 million) and an after-tax loss of HUF 8.3 billion (EUR 21.6 million), based on data from Opten, a company information database.
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Via 24.hu, Világgazdaság; Featured image: Pixabay
The post State Railways Take over Struggling Dunakeszi Rail Vehicle Manufacturer appeared first on Hungary Today.
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