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Ceva-Phylaxia inaugurates HUF 2bln expansion

Telco

French-owned veterinary company Ceva-Phylaxia inaugurated a HUF 2 bln expansion at its plant located in Budapest, the company announced today. The investment raised the capacity at the base by 40% and is expected to raise headcount by 15-20 from the current 450 as of next spring, Farm Ministry State Secretary Róbert Zsigó said.

Ceva’s Hungarian unit owes its success chiefly to poultry vaccines, and the company also employs 120 people in research and development, Péter Kozák, top executive of the Hungarian unit emphasized.

Ceva's director for the region, László Máté, said Ceva-Phylaxia made a revenue of more than HUF 13 bln in 2013, including more than HUF 10 bln from exports. Last year, revenue rose by 10% year-on-year, and this year it is expected to reach about HUF 14.5 bln, he added.

Ceva invested HUF 13 bln in Hungary in the past seven years and expects to invest a further HUF 12 bln in the coming five years, Máté said.

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