Ongropack inaugurates HUF 9.1 bln plant

MNB

pexels

Hungarian family-owned PVC plastics manufacturer and distributor Ongropack inaugurated a HUF 9.1 billion plant in Szirmabesenyő (NE Hungary) on Tuesday, at a ceremony attended by Prime Minister Viktor Orbán, reported state news agency MTI.

Ongropack owner László F. Kovács said the government has provided a HUF 1.053 bln grant for the project, while the company has also used a fixed-interest loan from the Funding for Growth Scheme (FGS) of the National Bank of Hungary (MNB).

Last year the company turned out 24,000 tonnes of products, exporting 90% of its output. Revenues amounted to HUF 13.5 bln and the firmʼs headcount reached 240. Revenues have been rising in the last nine years by around 9% annually.

Ongropack was founded in 1993 as a subsidiary of chemicals concern BorsodChem, of which Kovács was CEO for 15 years until 2006.

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