Marking 25 years in Hungary, P&G to invest USD 200 mln
U.S.-based Procter & Gamble (P&G) is launching a USD 200 million investment project in Hungary, the consumer goods giant announced today after signing a cooperation agreement with the Hungarian government at its plant in Csömör, according to reports.
The agreement was signed on behalf of the Hungarian government by Minister of Foreign Affairs and Trade Péter Szijjártó, and on behalf of P&G by Geraldine Huse, CEO and Chairman of the Board for P&G Central Europe. It confirms the intention of the U.S. company and the Hungarian government to grow together for years to come. P&G appreciates the investment climate in Hungary, the talent of Hungarian employees and quality infrastructure, the company said.
The company decided that Braun packaging operations, as well as assembly and packaging operations for some Oral B products, will be carried out in Hungary at the Gyöngyös plant. Additionally, P&G is expanding its manufacturing facilities in Csömör with state-of-the art technology to manufacture a new generation of sanitary pads. Together, these investments exceed USD 200 million and will result in the creation of around 250 manufacturing jobs.
P&G has been present in Hungary since 1991. Over the past 25 years the Hungarian subsidy has grown into an organization of over 1,200 people with a portfolio of more than 20 innovative and trusted brands, according to a press release issued today. Currently, the company operates two facilities in the country: a Feminine Care plant in Csömör, celebrating together with the company its 25th anniversary, and the Baby Care plant in Gyöngyös, opened in early 2014. The plants manufacture innovative products for over 50 markets globally.
“Throughout our journey we have remained committed to continuously bringing innovation to Hungary, serving Hungarian consumers, investing in state-of-the-art manufacturing facilities, creating a modern working environment and contributing to the growth of the country,” said Huse.
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