Italian firm invests in Hungarian meat plant
Under the project, the Italian company modernised its Hungarian plant which processes various pork and poultry meat products. These include ham, roasted trotters, cold cuts, frankfurters, salami, ribs, bacon, and many others, according to data released by Kometa 99.
The project would enable it to improve the quality of the facility’s products, and reduce animal stress before slaughter, company representatives told local news agency MTI.
Currently, the Kaposvár-based company employs 643 staff. It generates half its revenues from exports to Western European countries, such as Italy, Spain and Germany, as well as South Korea, Japan, the Balkan States, and Eastern Europe.
Export sales
Meat from pre-cooled and deep-frozen pork (ham, loin, loin steak, boneless pork belly and collar) makes up the majority of the firm’s export sales.
The latest investment was facilitated by funds obtained by Kometa 99 from the EU. The investment aid allowed will cover about 50% of the Kaposvár-based project.
In 2013, with the aim of financing the company’s expansion and maintaining its current workforce, the municipal authorities of Kaposvár decided to invest in Kometa 99. They acquired a stake in the company through an investment of about HUF 2bn (€6.5m).
Revenues
Last year, the meat processor posted revenues of some HUF 25bn (€8m), and a net loss of HUF 153m (€500,000), according to figures from Kometa 99. As a result of its lower financial results in the past years, the Italian company has amassed debts which total some HUF 12bn (€38.6m).
The company claims it is “one of the largest meat processing companies” in the Hungarian market. It has declared aims to implement “the highest level of food safety along with the greatest consumer satisfaction”.
Kometa 99 says its facility in Kaposvár is fitted with an annual capacity which enables it to process some 800,000 pigs per year.
Kaposvár is located in Hungary’s region of Southern Transdanubia, about 191km from the country’s capital Budapest.
