Pick Szeged plows HUF 40 bln into salami capacity
Image by tviolet / Shutterstock.com
Hungarian meat company Pick Szeged on Friday announced a close to HUF 40 billion expansion that will boost its salami capacity by about 25% by 2030, according to a report by state news wire MTI.
Pick Szeged CEO István Takács said the investment is a "milestone" in the company's more than 150-year history.
Minister of Foreign Affairs and Trade Péter Szijjártó said the government is supporting the investment, which will contribute to preserving 1,900 jobs, with a HUF 10.6 bln grant.
Pick Szeged will build a new plant next to its curing tower to be completed in several phases. The plant will produce its first salami in the second half of 2024.
The company can turn out an annual 10,000 tonnes of its flagship winter salami, operating at full capacity. The investment will add one-quarter to that capacity.
Pick Szeged said its experts needed almost three years to develop the technology to beech smoke its salami under modern conditions while still allowing the product's characteristic white mold to develop on the casings.
Takács said the company's net turnover reached HUF 72 bln last year, with exports accounting for 30%.
Pick Szeged, a member of vertically integrated agribusiness Bonafarm, sells its products in 35 countries.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
