Master Good awarded HUF 3.6 bln government investment grant
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The Hungarian government is awarding poultry company Master Good a HUF 3.6 billion grant to support a HUF 8.9 bln expansion of its export capacity, Minister of Foreign Affairs and Trade Péter Szijjártó said yesterday.
The investment at Master Goodʼs base in Kisvárda will create 500 jobs, Szijjártó said.
The government has awarded ten large Hungarian-owned companies a combined HUF 24 bln in grants over the past year and a half. The money will support HUF 90 bln in investments that will create nearly 2,500 jobs.
Szijjártó said Master Good, currently one of the top twenty poultry processing companies in Europe, will become one of the top ten such companies on the continent as a result of the development.
Managing director and owner László Bárány said Master Good currently breeds and processes one-third of Hungaryʼs stock of chickens and this ratio will come close to 50% in two years as a result of the investment. Master Good currently exports more than 55% of its output and this percentage will reach 70% as output grows 30-35%, he said.
Bárány told MTI that headcount is expected to grow to almost 1,300. The group had consolidated revenue of HUF 43.5 bln last year and expects annual revenue to reach HUF 60 bln in three years as a result of the investment.
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