Daily News | Oct 19, 2018 | 1
Univer Product inaugurates EUR 14m plant
Hungarian condiments maker Univer Product (Kecskemét, C Hungary) has inaugurated a 4.3 billion forints (EUR 14m) tomato processing plant, the biggest of its kind in central Europe, on Thursday.
Hungary’s government awarded the company a 2.1 billion forint grant for the project, Economy Minister Mihály Varga said at the ceremony.
The government launched a support programme in 2015 for big companies that are not eligible for European Union funding but upgrade their technology, increase their production capacity and create workplaces.
The investment has doubled the company’s tomato processing capacity to 140,000 tonnes a year and created 40 jobs, CEO Károly Molitorisz said.
Univer Products exports its output to Poland, Serbia, Germany, Slovakia, the Czech Republic and Bulgaria. Univer Product projects revenue to increase by more than 17 billion forints in the next eight years, raising the share of tomato concentrate from 7 percent to 19 percent within the total output and boosting exports from 15 percent to 28 percent. Univer Product, established in 1948, employs 620 people.
The company had revenue of almost 21.5 billion forints in 2016 and projects revenue of 22.6 billion forints this year.
As we wrote on July, Prime Minister Viktor Orbán gave an address at an inauguration ceremony for a new production plant for Balogh Tészta Zrt. in Tiszakécske on Thursday.