25th anniversary of the founding of Swiss food giant Nestle’s Hungarian subsidiary in Hungary

Budapest, October 12 (MTI) – Economic relations between Hungary and Switzerland are mutually beneficial, a foreign ministry state secretary said at a conference marking the 25th anniversary of the founding of Swiss food giant Nestlé’s Hungarian subsidiary in Budapest on Wednesday.

More than 300 Swiss companies are present in Hungary employing 40,000 people, Lászlo Szabó said at the Food4Talk conference. Bilateral trade turnover increased by 10 percent last year, he added.

Over the last 25 years, Nestlé Hungaria has continuously developed its business, introduced innovative technological solutions and created new jobs, Szabó said. The company also provides more and more export opportunities for Hungary, he added.

Nestlé is also finding ways to produce healthier and more nutritious products, he said.

Nestlé Hungaria managing director Jean Grunenwald said the company has invested over 100 billion forints (EUR 327m) in Hungary. Nestlé is a key player in Hungary’s food processing industry, he said, adding that the company’s plants in Budapest, Bük, Szerencs and Diósgyőr provide jobs for 2,400 people.

Nestlé Hungaria had net revenue of 126.8 billion forints last year, a 7.5 percent increase over its 2014 revenue.

Source: MTI