EU funds
Hungarian meat processor expands capacity on HUF 740 mn EU grant
The company said in a statement that in scope of the project realised with about HUF 742 million worth of EU funds, it has added a 3,300-square-metre plant to its existing facility, and acquired additional new production equipment and machinery. The project involved the setting up of new technological systems and capacities, as well as the upgrade of the IT system controlling production and the establishment of solar panels.
According to the database of projects supported by the EU, the company won HUF 742 million worth of non-refundable EU funding in a tender last August, and additional HUF 763 mn worth of refundable grant for a new plant to boost production capacity, optimist its processes, expand its warehousing and technological area and acquire machinery allowing the company to produce higher added-value products. EU grants make up 37% of the total project cost of HUF 2 billion. The works were originally scheduled to be completed by 20 March.
Privát-Hús Ltd., founded in 1992, is a producer, retailer and wholesaler of mean products and carcass meat. It expects a 20% capacity growth as a result of the investment affecting dry goods production, packaging and warehousing.
The project helped the company expand its staff, as well. It now employs 202 associates, versus 179 in 2017, and it also hopes that it will have the opportunity to recruit more.
The company churns out 6,500 tonnes of its 150 kinds of products annually, and it operates four retail stores in Kaposvár, the capital of Somogy county.
It sells 98% of its produce domestically and exports the remaining 2% to the Czech Republic, Georgia, Germany, Poland and the UK.
Privát-Hús Ltd. posted HUF 6.3 bn sales revenue and HUF 379 mn pre-tax profit in 2017. Its sales edged up to HUF 6.4 bn in 2018 and it recorded a pre-tax profit of HUF 448 mn. The company targert HUF 6.6 bn of revenue and HUF 50 mn pre-tax profit for this year.
Cover photo by privathus.hu
According to the database of projects supported by the EU, the company won HUF 742 million worth of non-refundable EU funding in a tender last August, and additional HUF 763 mn worth of refundable grant for a new plant to boost production capacity, optimist its processes, expand its warehousing and technological area and acquire machinery allowing the company to produce higher added-value products. EU grants make up 37% of the total project cost of HUF 2 billion. The works were originally scheduled to be completed by 20 March.
Privát-Hús Ltd., founded in 1992, is a producer, retailer and wholesaler of mean products and carcass meat. It expects a 20% capacity growth as a result of the investment affecting dry goods production, packaging and warehousing.
The project helped the company expand its staff, as well. It now employs 202 associates, versus 179 in 2017, and it also hopes that it will have the opportunity to recruit more.
The company churns out 6,500 tonnes of its 150 kinds of products annually, and it operates four retail stores in Kaposvár, the capital of Somogy county.
It sells 98% of its produce domestically and exports the remaining 2% to the Czech Republic, Georgia, Germany, Poland and the UK.
Privát-Hús Ltd. posted HUF 6.3 bn sales revenue and HUF 379 mn pre-tax profit in 2017. Its sales edged up to HUF 6.4 bn in 2018 and it recorded a pre-tax profit of HUF 448 mn. The company targert HUF 6.6 bn of revenue and HUF 50 mn pre-tax profit for this year.
Cover photo by privathus.hu
This article is part of the work programme titled "The impacts of EU cohesion policy in Hungary - Present and Future" which is carried out by Net Média Zrt., the publisher of Portfolio.hu, between 1st April 2019 and 31st March 2020 with European Union financing. The views in this article solely reflect the opinions of the author. The European Commission as the funding entity does not take any responsibility for the use of information presented in this article.
