British American Tobacco to invest EUR 9.5m at Hungary base

Budapest, July 19 (MTI) – British American Tobacco is to increase production capacity with an investment of 3 billion forints (EUR 9.5m) at its plant in Pécs, in southern Hungary, creating 200 new jobs, Péter Szijjártó, the trade and foreign affairs minister, said on Tuesday.

Szijjártó noted that Hungary’s investment promotion agency HIPA is in talks with another seven British companies on further investments. He said the value of trade between Hungary and the United Kingdom grew by 15 percent to 5 billion euros last year. As a result of an overhaul of BAT’s European production strategy, the group is eliminating certain capacities in western Europe and moving investment to Hungary, the minister said. Headcount at the Pécs tobacco factory will increase to 800, he added.

CEO of BAT Central Europe Richard Widmann said the group has invested more than 57 billion forints in Hungary since 1992, and its Hungarian unit has become one of the biggest investors and employers in the country.

Photo: MTI

Source: MTI