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Food company Újvilág sees revenue climbing to HUF 400m in 2010

Hungarian food company Újvilág Mezőgazdasági es Élelmiszeripari Szövetkezet expects to close 2010 with revenue of HUF 400 million, chairman Zoltán Szebeni told MTI.

Revenue of the company has risen 20-25% over the past 3-4 years, Szebeni said.

Újvilág, established as a farm cooperative in 1949, wound up the last of its agriculture activities, raising crops, in January. Now the company is focusing on creating new products to meet the growing demand for healthy food, Szebeni said.

Újvilág makes such well known Hungarian brands as Abonett and Négercsók. (MTI-Econews)