Friday, Jul 1, 2016. 15:25

M-FlexiLog eyes HUF 3.3 bln investment in Hungary

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Austrian-owned M-FlexiLog is planning to build its second packaging materials plant and logistics base in Hungary’s Békéscsaba through an investment of HUF 3.3 billion, Hungary’s Foreign Minister Péter Szijjártó said yesterday, according to reports.

The Hungarian government will support the investment with a HUF 922 million grant, and has declared the investment of “strategic importance to the national economy”, Hungarian news agency MTI reported.

The investment in a 3,500 sqm warehouse and a 4,500 sqm production base turning out packaging materials is expected to be finished by 2017, and is expected to create 120 new jobs in the country.

At the new plant, revenue is expected to reach HUF 5 bln in five years, with exports accounting for 70% of total revenue, M-FlexiLog Managing Director Istvan Zoltán Kasa reportedly said.

A HUF 1 bln printing knowledge and training center is to be set up in the city as part of the government-sponsored Modern Cities program, to supply future employees for the company, MTI reported.

The Austrian Marzek group, which includes M-FlexiLog, has production bases in three countries, including Hungary, MTI added.

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