Penny Market invests in third Hungarian logistics base

Pharma

The Hungarian concern of German-based discount supermarket chain Penny Market has laid the cornerstone of a logistics base in the west Hungarian city of Veszprém, its third here, which will be realized with an investment of HUF 7.7 billion, according to reports.

The new logistics base is set to create 130 new jobs, as well as supplying approximately 60 Penny Market stores in the region, said Silke Janz, Penny Marketʼs managing director for logistics and financial affairs, according to Hungarian news agency MTI. 

Approximately 800 of the 1,400 products sold by Penny Market are supplied by Hungarian producers, said János Fónagy, state secretary at the Ministry of National Development, at the opening ceremony Wednesday.

Penny Market completed renovating its stores and opened its 207th store in Hungary in 2016. It employs 3,730 people in the country, MTI reported, adding that its net sales revenues came to HUF 178 bln in 2015, with operating profit of HUF 2.5 bln.

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