Nestlé announces a EUR 97m capacity expansion investment in Hungary

The government has used all financial resources to prevent unemployment during the economic crisis caused by the coronavirus pandemic, Foreign Minister Péter Szijjártó said on Monday.

Szijjártó said at an event announcing a 35 billion forint (EUR 97m) capacity expansion investment by Nestlé Hungaria in Bük in western Hungary that 120 new jobs would be created. The state is providing 363 million forints support for a three-year project involving further training for 2,180 employees at total value of 726 million forints, he added.

He said the new investment would increase exports to represent over 90 percent of total production by the company in Buk, with products sold in some fifty countries.

The majority of suppliers are Hungarian companies, selling goods and services to Nestle at total value of over 50 billion forints each year, he added.

Szijjártó said

the planned training programme would enable employees to acquire skills to use state-of-tha-art technolgies.

The Bük plant is already a central European hub for animal food production and thanks to the new investment, one of Nestle’s largest animal food plants would be set up in Europe, he added.

Hungary’s economic performance returned to pre-pandemic level this summer already, whereas the global economy is projected to reach this level only by the end of next year, he said

This was partly thanks to a two-month advantage owed to the fast launch of the vaccination scheme in the country, he added.

He also said that the volume of Swiss-Hungary trade increased by 8 percent in the first eight months of 2021, exceeding 1.2 billion euros. Swiss companies represent the 11th largest investor community in Hungary, he said, adding that this was partly thanks to “problem-free political relations”.

Source: MTI