Hungary's Pek-Snack completes EUR 2.6mn plant upgrade.

By bne IntelliNews May 12, 2011
Hungary's frozen baked goods maker Pek-Snack completed a HUF 700mn (EUR 2.6mn) upgrade of its plant in Igal, southwestern Hungary, Budapest Business Journal reported. The last stage of the modernisation was estimated at HUF 220mn and was supported with HUF 133mn in EU funding. Pek-Snack was earlier part of the network of bakery and fast food pastries franchise Fornetti Europa, but their contract was terminated in December 2010. Pek-Snack began distributing its own brands in March 2011. It currently works with 700 franchise partners in Hungary and 500 in Croatia. The company has a payroll of 200.

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