Canning company winds up HUF 434 mln investment

Telco

Hungary-based canning company Gloster Zöldség-Gyümölcs Feldolgozó és Kereskedelmi, located in Máriapócs, in eastern Hungary, has built a new warehouse and office building as well as purchased labeling machinery and a conveyor system for a total of HUF 434 mln, the company told Hungarian news agency MTI today.

The company received HUF 217 mln for the project in the form of a European Union grant.

Gloster exports its products to Germany, the Netherlands, the Baltic states, Russia and the United States, in addition to selling on the domestic market, the news agency noted. The company had net profit of HUF 187 mln on revenue of HUF 2.8 bln in 2013.

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