Poultry processor Pannon Baromfi Kft inaugurated on Saturday a new plant in Bábolna, northwest Hungary as part of Ft 840 million worth of developments.
The plant, which meets the strictest EU requirements, is intended to boost the company's presence on the high-end market for processed poultry.
"The panic caused by bird flu and the plummeting of prices was a disadvantageous blow to Pannon Baromfi as well. In the interest of development, the company's owner carried out an Ft 840 million capital increase, of which the Bábolna investment is a part," managing director László Vécsei said at the ceremony.
The 3,000 square meter plant employs 80 workers to process and package poultry delivered from nearby Győr. The number of employees could double later on, Vécsei said. Most of Pannon Baromfi's premium products - breast and thigh filets - are bought by Germany poultry company OSI, which owns 34% of Pannon Baromfi, for an annual Ft 3 billion. Starting this year, Pannon Baromfi's seasoned products will be exported to the UK and Slovakia.
Pannon Baromfi controls 13% of the domestic market and accounts for almost 30% of Hungary's poultry exports. The company has annual revenue of about Ft 10 billion. It processes 14.5 million birds a year, but this number could increase as high as 18 million, Vécsei said.