BAT eyes HUF 3 bln capacity investment
The Hungarian subsidiary of British American Tobacco (BAT) is planning to increase production capacity at its Hungarian plant in Pécs through an investment of HUF 3 billion, foreseen to create 200 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó announced yesterday.
BAT is eliminating certain capacities in Western Europe and is planning to move investment to Hungary, due to an overhaul of the company’s European production strategy, Hungarian news agency MTI reported.
Szijjártó said the headcount at the Pécs plant is foreseen to reach 800 as a result. Richard Widmann, CEO of BAT Central Europe, noted that the company has invested more than HUF 57 bln in the country since 1992, and its unit has become one of the biggest investors and employers here.
Szijjártó added that the Hungarian Investment Promotion Agency (HIPA) is currently in negotiations with seven other British companies planning to make further investments in Hungary. The minister noted that trade between the two countries was up by 15%, reaching €5 billion last year.
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