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.