ULT could halt processing operations in Hungary
U.S.-owned Universal Leaf Tobacco (ULT) is considering terminating its processing operations in Hungary this year, the company said yesterday, according to reports.
The move would eliminate “a significant number of permanent and seasonal workplaces”, Hungarian news agency MTI cited the companyʼs announcement.
The company plans to concentrate its processing and pulling out of Hungary is part of a larger plan to improve the firm’s efficiency in Europe. ULT believes the pull out could make Hungarian tobacco more competitive on global markets, MTI reported.
ULT currently operates a plant in Nyíregyháza, in eastern Hungary.
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