Kométa 99 invests HUF 1.3 bln to process byproduct
Hungaryʼs Kométa 99 Zrt. is undertaking a more than HUF 1.3 billion investment at its base in Kaposvár (190 km southwest of Budapest) to make better use of butchering byproducts, the meat company said on Monday, as reported by state news wire MTI.
The investment will allow Kométa to turn the annual 6,800 tons of byproduct at its slaughterhouse into 1,100 tons of industrial grease and 2,200 tons of meat and bone meal.
The sale of these products is expected to generate an additional HUF 350-400 million of revenue annually. The company will also save some HUF 50 mln annually as the investment will let it destroy the remaining byproduct.
The cost of the investment will be covered by Kométaʼs own resources, along with bank credit and European Union funding. The company expects a return on investment of three years.
The share of company revenues from exports rose from 37% to 39% in 2016. More than half of Kométaʼs exports go to Italy (the company is owned by Italian investors), and the rest to 30 other countries, including South Korea and Japan.
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