Poultry processor plans HUF 15 bln capacity expansion

Int’l Relations


Hungarian poultry company Master Good Kft. plans a HUF 15 billion capacity expansion at its base in Kisvárda (NE Hungary), Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday. The government is supporting the investment with a HUF 3.4 bln grant.

The government grant is the first one awarded under the Hungarian Investment Promotion Agencyʼs new program for technology-intensive projects, Szijjártó noted.

Cited by official government website kormany.hu, Szijjártó described the food industry as among the most innovative branches of the Hungarian economy, due to the need to respond to increasingly high expectations and regulations.

He added that the sector in Hungary generated 8% year-on-year growth in production in the first half, exceeding HUF 1.5 trillion in value and providing a total of almost 140,000 jobs.

The investment will raise Master Goodʼs revenue by 50% within two years after its completion, said Managing Director László Bárány. It will also make the base in Kisvárda among the six biggest poultry processors in Europe, he added.

Last year, Master Good posted revenues of HUF 69 bln, Szijjártó recalled, with almost three-quarters of its products exported to some 40 countries.


POPIHN Raises Forecast for Fuel Consumption Energy Trade

POPIHN Raises Forecast for Fuel Consumption

Hungarian Lawmakers Ratify Finland's NATO Accession Parliament

Hungarian Lawmakers Ratify Finland's NATO Accession

Nolato Partners With Happy at Work HR

Nolato Partners With Happy at Work

Sümeg Castle Reopens History

Sümeg Castle Reopens


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.