Fegyver- és Gépgyártó Részvénytársaság (“Arms and Machine Manufacturing Company”), known as FÉG, was formed in 1891 in Csepel, Hungary, now a part of Budapest.  FEG manufactured guns and ammunition for the Austro-Hungarian Army and exported these to other foreign armies.  In 1899, FEG began producing Diesel engines after purchasing the patent rights from Rudolf Diesel.  FEG has undergone numerous name changes since its founding while continuing to manufacture weapons, pistols as well as water boilers and heaters.  In 2004, due to multiple embargoes placed upon export markets for FEG weapons, the company completely stopped all activity related to the defense industry.  After nearly going under in bankruptcy, FEG was given an extensive investment by MPF Industry Group in 2010 and underwent a complete reorganization.  FEG emerged from this period as a leading producer of HVAC products in the eastern European region.  MPF Industry Group is based in Singapore but primarily owns European industrial companies.  

FEG produces many products for the commercial gas industry including valves, ovens and production equipment.  

For the domestic retail market, FEG produces kitchen appliances, air conditioners, gas boilers, wall heaters and water heaters.