Pikopack invests HUF 1 bln in capacity expansion

Telco

pixabay

Packaging company Pikopack will invest HUF 1 billion to expand production capacity at its plant in Füzesabony through a HUF 500 million government grant, National Economy Minister Mihály Varga said yesterday.

The investment will create 30 workplaces, said Varga.

Pikopack will construct a new production hall and start manufacturing “easy-open” tin can lids, CEO Sándor Tóth said.

The government is helping Pikopak as part of its support program for big manufacturing companies that have not received EU funding and suffer a shortage of capital.

Pikopack makes food and aerosol cans, exporting 93% of its products. The company employs 450 workers. In 2014 the companyʼs revenue exceeded HUF 10 billion and it reported close to HUF 200 mln in profit.

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