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Gyulai Húskombinát restores production

Gyulai Húskombinát, one of Hungary's oldest and most renowned sausage makers, has restored production to its pre-crisis level after its majority owner injected a further HUF 300 million (€1.13 million) capital into the company, Békés Megyei Online reported, citing Gyulai Húskombinát CEO János Ruck.

Ruck noted that Gyulai Húskombinát cut production by 25%-30% in the first half of the year after having serious liquidity problems last autumn.

Húskombinát's majority owner, Hage-Nagisz, injected HUF 400 million in the company during the first five months of the year. Ruck said the total HUF 700 million injection shows partners of the company that the owners believe Húskombinát will shortly receive the promised government credit guarantee.

Gyulai Húskombinát is expecting to receive a HUF 1 billion working capital loan, 80% of which Hungary's state-owned national development bank MFB will guarantee. (MTI – Econews)