This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Avis Budget Group Expands Business Support Center In Budapest, Hungary

Stocks in this article: CAR

PARSIPPANY, N.J., Oct. 15, 2012 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (Nasdaq:CAR) today announced the addition of 235 new positions to its Business Support Center (BSC) in Budapest, Hungary. The expansion will streamline financial, administrative and customer-service processes for the Company's Europe, Middle East and Africa (EMEA) region and provide Avis Budget Group with significant cost savings.

Avis Budget Group's expansion of its shared-services center is another aspect of the Company's ongoing integration of its operations within Europe, following its acquisition of Avis Europe plc last October. The BSC initiative contributes toward Avis Budget Group's acquisition synergies, which are expected to be providing more than $35 million in annual benefits by late 2012.

"Our Business Support Center expansion will enhance our customer service, and further drive efficiency throughout the region," said Larry De Shon, president, EMEA, Avis Budget Group. "The initiative will better position Avis Budget EMEA for sustained, profitable growth, and at the same time will create significant employment opportunities in Hungary."

The BSC's main operations include accounting, accounts receivable, accounts payable, database management, fleet administration, information technology and customer service. The facility was established in January 2004, making Avis Budget one of the first international companies to set up a regional service center in the country. The new positions will bring the total number of BSC employees to approximately 550 with communication skills in Dutch, English, French, German, Italian and Spanish.

"Avis Budget Group's commitment to this country shows that they are satisfied with Hungary as a place to conduct business," said Erzsébet Dobos, president of the Hungarian Investment Trade Agency. "We're pleased that they have chosen to invest in our country and our future."

Avis Budget Group announced its planned acquisition of Avis Europe in June of 2011 and completed the transaction in October of that year. The Company subsequently restructured its senior leadership team and global organization into three operating regions: North America; Europe, Middle East and Africa; and Latin America / Asia Pacific. The Company has since been focused on executing its integration plan.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs