Nestlé to complete 64 million euros investment in fall

Date: 24/04/2017 Comments: 0
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Nestlé to complete 64 million euros investment in fall

The Hungarian subsidiary of Nestlé expects to complete its biggest investment in the country by this fall, an expansion at its pet food plant in Bük, northwest Hungary, worth over 20 billion forints (64 million euros), according to a press release sent to the Budapest Business Journal.

Through the expansion, which the press release says is the largest food processing industry investment in Nestléʼs history in Hungary, the company expects to further increase its exports and to turn the plant into its most significant pet food manufacturing center in Europe. The plant in Bük currently turns out about one-fifth of the 1 million tons of pet food produced in Europe each year. 

Nestlé претендира, че е най-големият швейцарски инвеститор в Унгария, похарчил повече от 320 млн. евро в страната през последните 25 години.

Nestlé claims to be the biggest Swiss investor in Hungary, having spent more than 100 billion (320 million euros) in the country on investments in the past 25 years. The company said it believes the success of its export figures lies in continuous capacity expansion.

Nestlé noted that it processes 90,000 tons of agricultural ingredients from Hungarian suppliers at its three local plants. Some 60% of the more than 130,000 tons of ingredients processed in its Bük plant originates in Hungary.

Nestlé Hungária Kft.’s 2016 revenues exceeded 125 billion forints (400 million euros), derived from producing more than 230,000 tons of products in Hungary. Almost 90% of this amount is manufactured for export to a total of 46 countries around the world.

In addition to its pet food plant, Nestlé Hungária makes cocoa and coffee products in Szerencs and chocolate figurines in Diósgyőr, both in the northeast of Hungary, noted state news wire MTI. The company employs about 2,400 people.

Source: www.bbj.hu

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