San Benedetto Hungary eyes HUF 3 bln capacity expansion
Hungarian mineral water producer Magyarvíz, the 100%-owned unit of Italyʼs San Benedetto, plans to spend HUF 3 billion on expanding the production capacity of its Mizse brand, distribution director Zoltán Balog told Hungarian news agency MTI today.
The investment will increase the production capacity of Mizse mineral water by 100 million bottles to exceed 300 million bottles annually, and will add ten people to the current workforce of 53 employees.
The new line is scheduled to start operation in January next year.
Magyarvíz net sales revenues rose 3.6% overall to HUF 6.6 bln in 2016, of which Mizse sales rose 10% to HUF 3.3 bln, MTI was told. Mizse represents about 30% of the Hungarian mineral water market, Magyarvíz claimed.
After-tax profit looks likely to have risen 40% in 2016 from HUF 326 million in 2015, the company told MTI.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.