Hungarian sweets maker Felfoldi Edesseggyarto on Tuesday inaugurated a HUF 133 million production hall at its base in Debrecen (E Hungary).
Felfoldi Edesseggyarto won a HUF 53 million European Union grant to build the almost 1,000sqm hall, said owner Jozsef Felfoldi. The company will hire twelve more workers to man the new capacity, he added.
The company employs 120 people at present.
Felfoldi Edesseggyarto exports 99% of its products to markets in Japan, South Korea and China, as well as Germany, the UK, France and the Netherlands. Last year, it started deliveries to India, Mexico, Iraq and Azerbaijan. The company produces about 300 tons of finished product a year.
The company aims to undertake big developments in the coming years and it wants to double output from 40 million units a year in 2012, Felfoldi said.
This year, Felfoldi Edesseggyarto targets revenue of HUF 3 billion up from HUF 2 billion in 2010. the company expects capital expenditures to rise to HUF 200 million over the next one and a half years.
