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Kapuvári Meat to merge with owner

Meat magnate Gyula Román is merging troubled Kapuvári Meat Rt with its better-off owner, Immobilia Zrt, to allow it to carry out more than Ft 300 million of investments started earlier, business daily Napi Gazdaság reported on Wednesday.

After the merger with Immobilia, Kapuvári Meat will have net assets of Ft 1.5 billion, Román told the paper. Part of this money will be used to improve the company’s efficiency and expand its product range, he added.
Kapuvári Meat targets revenue of Ft 12 billion in 2006. It also plans to hire 30 more workers as a result of investments, bringing the total number to 390. Kapuvári Meat is part of Román's meat group Debreceni Meat Rt, which also includes Sole-Meat Kft and Csaba Meat Kft. Debreceni Meat targeted annual sales of Ft 38 billion in 2006. The companies export one-fourth of their products.