K&P Chem announced plans on Thursday to establish a HUF 5.1 billion plant that will make base ingredients for cosmetics and household cleaning agents in Szolnok (central Hungary).
Hungaryʼs government is supporting the investment, which will create 50 jobs, with a HUF 450 million grant, Minister of Foreign Affairs and Trade Péter Szijjártó was cited as saying by state news agency MTI.
Szijjártó said that the companyʼs high value-added products are delivered to multinationals such as Procter & Gamble, Unilever, Henkel, and Colgate-Palmolive.
K&P Chem executive George Papaioannou said test runs at the plant will start in November and full-fledged production could begin in January or February. He put the plantʼs annual capacity at 80,000-100,000 tonnes.
The plant in Szolnok is K&P Chemʼs first in Hungary. The company already operates four other facilities around the Mediterranean.