Civita Group Inaugurates HUF 2.5 bln Pasta Plant
Image by MTI/Zsolt Ceglédi
Family-owned Civita Group inaugurated a HUF 2.5 bln gluten-free pasta and edible tableware plant in Monostorpályi (206 km east of the capital) on Friday, according to a report by state news wire MTI.
Civita Group unit Agri-Corn was awarded HUF 1 bln in European Union and state support for the investment, CEO Gábor Vaszkó said.
The plant can process 40,000 tonnes of GMO-free maize a year, Finance Minister Mihály Varga said at the ceremony. The group's pasta capacity will triple, while production of cooking oil reaches 150,000 tonnes annually, he added.
Varga said the company's owners are weighing a listing on the stock exchange.
Vaszkó said the pasta plant will turn out 20,000 tonnes of product a year. The edible tableware will replace 500 tonnes of plastic plates and cups annually, he added.
This year, the group targets a 20% increase in revenue over last year's HUF 5 bln, he said.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
