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Chio-Wolf invests Ft 450 million in Hungary this year

Hungarian snack food company Chio-Wolf is investing Ft 450 million this year to strengthen its market position from 32% to 35-37%, the company told MTI on Wednesday.

The modernisation of the company's dough machine at its production facility in Győr accounts for part of the investment. Chio-Wolf plans to close 2006 with revenue of Ft 10 billion, CEO György Somogyi said. He added that the company would continue to make its products using potatoes, corn and flour from Hungarian suppliers. Chio-Wolf employs 500 people at its plant in Győr and another in nearby Zirc. Chio-Wolf is one of the best-performing units of Cologne-based Intersnack Knabbergeback. (Mti-Eco)