Hungarian mill firm winds up HUF 464 mln R&D project

Telco

Hungarian grain milling firm Siker Malomipari introduced its newly developed technology – the result of a HUF 464 mln R&D project – at its mill in Szekszárd, southwestern Hungary, the company told Hungarian news agency MTI.

The project, which will add flour with a higher hydration rate to the millʼs product palette, was supported with a HUF 286 mln European Union grant.

The firm expects revenue to reach approximately HUF 9 bln this year, decreasing from last year’s HUF 10.4 bln, however, it foresees the current development to raise turnover by 10% in 12 months.

The company turns out about 100,000 tons of flour a year and holds a 10% share of the domestic market, MTI said.

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