Ongropack inaugurates HUF 9.1 bln plant

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.

Automotive

ALD Automotive | LeasePlan Unveils New Global Mobility Brand Ayvens

Government

Orbán: Peak Flood Expected to Leave Hungary by Mid-Next Week

Energy Trade

MVM H1 Revenue Falls 22% Y.O.Y.

EU

EU to Deduct EUR 200 mln Fine From Hungary Funding

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.