Danish biotech firm to set up HUF 2 bln R&D center
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Danish biotechnology company Foss will set up a HUF 2 billion research and development center in Pécs (SW Hungary). The government is supporting the investment, which will create 88 jobs for highly qualified professionals, with a HUF 773 mln grant.
Innovation, not increasing manufacturing capacities, represents competitiveness today, Minister of Foreign Affairs and Trade Péter Szijjártó said on announcing the investment Monday, as cited by online business news portal vg.hu. He added that this is why the government is supporting Foss, as a leading company in the development of food security.
Niels Degn, senior vice president for R&D at Foss, said the company picked Hungary for the center because of the professional competences of the local labor force and the positive attitude of the government and the University of Pécs. Family-owned Foss plans for the long term, he added.
The 2,000 square-meter R&D center is being established through Soft Flow, a Pécs-based biotech company that Foss acquired two years earlier.
Established in 1956, Foss has research and production facilities in Denmark and China, as well as in Hungary. About 80% of the worldʼs grain and 85% of global milk output is analyzed using methods developed by Foss, noted state news wire MTI.
Szijjártó recalled that in the first 11 months of 2017, Hungarian exports to Denmark increased by 19% compared to the previous year.
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