Gyermely inaugurates Ft 4 bln pasta plant
Hungarian food industry company Gyermely Zrt on Thursday inaugurated a new Ft 4 billion pasta factory, the country's biggest.
The ceremony was attended by Agriculture Minister József Gráf. The new factory has capacity to make 5,000 kilograms of pasta an hour and boost Gyermely's overall capacity by 20%, CEO Zsigmond Bokros said at the opening ceremony.
Gyermely paid for two-thirds of the factory's costs from its own resources and borrowed the rest. The opening of the factory also marks the completion of a four-year modernization at the company's facilities, which included the construction of a new packaging line, warehouse and a flour warehouse.
Gyermely controls 35% of Hungary's pasta market, and pasta accounts for 40% of the company's revenue. The rest comes from milling and sales of feed, planting seed and eggs.
Gyermely had revenue of Ft 13 billion in 2005, about 6% more than a year earlier. This year, the company targets a 10% revenue rise.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.