Gyermelyi Invests HUF 3 bln in Silos
Photo by MTI/Boglárka Bodnár
Hungarian pasta maker Gyermelyi inaugurated a HUF 3 billion grain silo investment at its base in Gyermely (about 31 km northwest of Budapest) on Thursday, according to a report by state news wire MTI.
Gyermelyi was awarded HUF 1.5 bln in state support for the 40,000-tonne capacity silos, chairman Béla Tóth said.
Agriculture Minister István Nagy said Gyermelyi's vertically integrated business model was "one of a kind", adding that sectors in which integration levels were under 50% faced big challenges because of a lack of predictability and uncertainty.
Gyermelyi can store two-thirds of its feedstock in the silos.
The company has plowed HUF 22 bln into its business over the past five years, raising its headcount over 500.
Gyermelyi had a net sales revenue of HUF 46.6 bln last year, public records show.
Conditions for New Home Renovation Grant Softened
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
