Hungary's BioTech USA launches HUF 744 mln upgrade
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Hungarian dietary supplement maker BioTech USA is investing HUF 744 million in a production upgrade and expansion, Minister of Foreign Affairs and Trade Péter Szijjártó said on Friday, according to a report by state news wire MTI.
The government is supporting the investment, which will preserve 1,800 jobs, with a HUF 245 mln grant, Szijjártó said.
BioTech USA managing director Bálint Lévai said the company will make production upgrades, add a new production line and set up an automated warehouse at its base in Szada, on the outskirts of Budapest. BioTech USA plans more investments in future, he added.
Lévai said BioTech USA is proof that a global brand can be built in Hungary, noting the company exports to more than 100 countries and has close to 300 sales outlets.
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