Poultry processor plans HUF 15 bln capacity expansion
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.
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