Coca-Cola inaugurates HUF 8.7 billion expansion near Budapest
The 3,000sqm addition will boost capacity at the soft drink maker’s base by 30 percent, the minister of foreign affairs and trade said at the ceremony. The state supported the investment with 740 million forints, Peter Szijjarto said.
US-owned Coca-Cola HBC Magyarorszag buys two-thirds of its feedstock from local suppliers and exports its products to 17 countries, he noted.
US companies form the second largest community of foreign investors in Hungary, the foreign minister said.
Their investments last year reached over a record 8 billion dollars, he said, adding that with an 11 percent increase, a new record was expected to be set this year.