Ceva-Phylaxia inaugurates HUF 2bln expansion
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 R贸bert Zsig贸 said.
Ceva鈥檚 Hungarian unit owes its success chiefly to poultry vaccines, and the company also employs 120 people in research and development, P茅ter Koz谩k, top executive of the Hungarian unit emphasized.
Ceva's director for the region, L谩szl贸 M谩t茅, 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, M谩t茅 said.
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