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PannonMill inaugurates HUF 4 bln mill

Hungary's PannonMill on Tuesday inaugurated a HUF 4 billion mill in Tiszapalkonya (NE Hungary). PannonMill won more than HUF 400 million in grant for the investment.

The mill, among the most modern in Europe, has capacity to mill a daily 300 tons and an annual 70,000 tons of wheat, said chairman-CEO Zoltán Poór.

The mill, PannonMill's third in Hungary, brings the company's annual milling capacity to 220,000 tons or one-fifth of the total milling capacity in the country, making it market leader.

PannonMill projects revenue of HUF 20 billion in 2011. The company is 99.9% owned by Vienna based LLI-EUROMILLS.