Edelmann finishes HUF 5 bln investment Hungary
Edelmann Hungary Packaging, the Hungarian subsidiary of German-owned Edelmann, wound up construction of a new 12,300 sqm printing plant in Hungary’s Zalaegerszeg, with an investment of a HUF 5 billion, which included a HUF 500 million European Union grant for the construction, according to reports.
Edelmann managing director Dierk Schroder (on the left), a worker at the plant (in the middle), and Hungaryʼs Cabinet Chief János Lázár (on the right) at the opening ceremony on Friday. (Photo: MTI/György Varga)
With the new plant, the number of employed staff is expected to rise to 280 from the current 177, Edelmann managing director Dierk Schroder said, adding that by 2020, around 300 people could be on payroll at the company, Hungarian news agency MTI reported.
Revenue is expected to reach HUF 8 bln by 2020 from HUF 5 billion last year, the managing director said. The share of export revenue is seen increasing to 30% from 18% by 2018, while cardboard box output is set to rise to an annual 17,000 tons from the current 11,000, MTI added.
Edelmann bought the printing plant in Zalaegerszeg late in 2010, and at present it is the country’s second-biggest cardboard box making facility, according to MTI.
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