Hungarian-owned paper company Vajda Papir expects to close 2011 with revenue over HUF 17bn, up more than 20% from 2010, owner and managing director Attila Vajda told MTI.

Exports generated more than half of revenue, Mr Vajda said.

Vajda Papir projects 20% revenue growth in 2012, he added.

Vajda Papir employs almost 300 people.