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Ceva-Phylaxia inaugurates EUR 25 mln vaccine plant

French-owned veterinary health company Ceva-Phylaxia inaugurated a EUR 25 million vaccine plant in Budapest on Wednesday, according to state news wire MTI.

The investment will increase annual production capacity at its base in the capital by a factor of six to 3 million units.

The expansion will create 60 jobs, said Ceva Group Chairman-CEO Marc Prikazsky. Ceva has invested about EUR 100 mln in Hungary, he added.

"In the case of Ceva-Phylaxia, innovation is indeed coupled with results, and Iʼve already made a note in my diary to be here with you again in 2020, or even sooner, to inaugurate our next facility," Prikazsky said.

Ceva-Phylaxiaʼs revenue is expected to exceed HUF 20 billion this year, said Country Manager Péter Kozák. Exports generate about HUF 16 bln of that amount.