New meat industry spending creates 166 jobs in Hungary

Poultry company Tranzit-Food plans to spend 6.5 billion forints (€ 17.5 million) on developments, creating 166 jobs, Péter Szijjártó, the minister of foreign affairs and trade, said on Friday.

The investments are supported by 2.7 billion forints (€ 7.3 million) in grant money by the government, the minister said at the announcement in Nyírbátor, in northeast Hungary.

The vertically integrated company’s poultry processing capacity will grow from 15 million a year to 25 million as a result of the developments, reducing dependence on imports and boosting export performance, Szijjártó said.

Tranzit-Food had revenue of 37.44 billion forints (€ 100 million) in 2020, public records show. Exports account for almost half of the total.

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Source: MTI