Alpha-Vet to spend HUF 400 mln on developments

Telco

Hungarian veterinary company Alpha-Vet is to spend HUF 400 mln to build a factory that would produce plant nutrients, the company told MTI yesterday. 

The new product is expected to improve the drought tolerance of crops as well as their average yields. Headcount at the firm is expected to increase from the current 214.

Set-up in 1989, Alpha-Vet, which took over peer Invet in 2013, and controls more than 60% of the market for veterinary drugs and pet food in Hungary, has centers in Budapest and five other cities around the country, and exports its products to eight EU countries. The company had after-tax profit of HUF 248m on revenue of HUF 12.8 bln in 2014, public records show.

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