Hungarian poultry producer to expand capacity
Kisvarda poultry plant, owned by Hungarian Master Good Kft, is to receive an investment of €46.3 million in the near future, reports Budapest Business Journal.
The investment will be partially supported by the government with almost €10.5 million, announced the Minister of Foreign Affairs and Trade, Péter Szijjártó. The government grant will be the first one awarded under the Hungarian Investment Promotion Agency?s new program for technology-intensive projects, explained the official.
In his opinion, the food industry as among the most innovative branches of the Hungarian economy. Official data show that the Hungarian food sector generated 8% year-on-year growth in production in the first half, exceeding €46 million.
Master Good intends to develop the plant in Kisvarda to become the sixth largest poultry processing facility in Europe, according to Managing Director László Bárány. The company expects that revenue will increase by 50% in the first two years after its completion.
Last year, the company's revenue was of €213 million, with almost 75% of the products exported to 40 countries.
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