Univer Product inaugurates HUF 3.5 bln expansion

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Hungarian condiments maker Univer Product inaugurated a HUF 3.5 bln expansion at its base in Kecskemét, Hungarian news agency MTI reported today.

The investment tripled the company's tomato processing capacity from 25,000 tons, said CEO Károly Molitorisz.

Prime Minister Viktor Orbán spoke at the inauguration ceremony.

Orbán said the value of European Union-funded investments in the next 6.5-7 years will come to about HUF 12,000 bln including the national co-funding, 60% of which will be spent on economic development.

Balázs Szarka, CEO of Univer Szövetkezeti, said the Hungarian-owned holding company has net assets of HUF 11 bln and employs about 1,500 workers. Net sales are expected to rise to HUF 17.1 bln from HUF 16.6 bln in 2013.

Univer spent HUF 7.2 bln on developments in the past five years, Szarka added.

 

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