Penny Market opens HUF 9 bln logistics center in Veszprém
German-owned discount supermarket chain Penny Market inaugurated a HUF 9 billion logistics center in Veszprém (i25 km southwest of Budapest) on Tuesday.
"Our third logistics center [in Hungary] with 26,500 square meters of warehouse space now enables us to optimally supply our western Hungarian businesses from Veszprém," Jens-Thilo Krieger, managing director of Penny Market Kft. said in a press release sent to the BBJ.
"This investment will strengthen Penny Market and the Veszprém region as we contribute to increasing employment. Supporting the domestic economy and promoting the sale of Hungarian products in our stores are two important goals that we can successfully achieve in our new warehouse," he said.
The greenfield investment has created 150 jobs and can hold 15,000 pallets, Krieger added.
State news agency MTI quoted Silke Janz, managing director for logistics and financial affairs, as saying the center will supply 59 shops, providing 28% of the logistics capacity of the company.
Penny Market has 208 stores and more than 3,000 employees in Hungary. According to public records, it recorded over HUF 190 bln sales revenues and HUF 488 million after-tax profit last year, MTI said.
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