German-owned Hauni Hungaria, which makes machinery for the tobacco industry, will invest HUF 5.7 billion at its base in Pécs (SW Hungary), company and government officials announced last Friday, according to state news agency MTI.
The government is supporting the investment, which will create 100 jobs, with a HUF 977 million state grant, said Levente Magyar, state secretary at the Ministry of Foreign Affairs and Trade.
Hauni Hungaria Managing Director Gábor Katona told reporters that during the company’s 25 years of operation it has spent almost HUF 31 bln on development projects in Pécs, according to official government website kormany.hu.
Katona said that during the course of the latest project, which will be completed in 2020, the plant will be fitted with state-of-the-art equipment to facilitate an increase in production capacity and improve efficiency. He added that the latest investment is necessary for further growth and will preserve the companyʼs market position, while it remains one of the city’s largest taxpayers.
Hauni Hungaria had net revenues of EUR 109 mln in 2017, and after-tax profit of EUR 8.6 mln, public records show. A subsidiary of Hauni Maschinenbau GmbH, which is based in Hamburg and is present in over 20 countries, it has been operating in Pécs since 1994.