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Forest Papír building HUF 2.5 bln plant, warehouse

Telco

Forest Papír, a member of the Hungarian-owned Forest group, which leads the domestic market for household and industrial paper products, is proceeding on schedule with the construction of a HUF 2.5 billion plant and warehouse at the former base of peer Piszkei Papírgyár in Lábatlan, managing director Ferenc Bodrogai said on Friday. Forest Papír won an HUF 812 million European Union grant for the investment which was announced last autumn. Forest Papír is spending about HUF 6 billion to consolidate production over five years, Bodrogai said. The Forest group had revenue of HUF 13 billion in 2012. Member Forest Papír targets revenue of HUF 10 billion this year. Exports generate 80% of revenue.

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