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Sara Lee completes Ft 1 bln investment in Hungary

US food giant Sara Lee completed Ft 1 billion of investments at its plant on the outskirts of Budapest this year, CEO of Sara Lee Hungary Tibor Seres announced.

One of the investments involved a reconstruction of the unit's tea plant to accommodate new packaging technology, Seres said.

The plant is Sara Lee's second-biggest tea packaging unit in Europe. Its output is sold in Spain, Belgium, the Netherlands, the Czech Republic, Denmark, Romania and Bulgaria, in addition to Hungary.

Sara Lee controls almost 41% of Hungary's roasted and ground coffee market and 43% of the tea market, according to market research company Nielsen.

Sara Lee has invested more than Ft 7 billion at its unit in Hungary since it was established in 1991. (MTI – Econews)