Swiss-owned Fragflav Kft to build EUR 135.5mn plant in Hungary.

By bne IntelliNews March 4, 2011
Fragflav Kft, fully owned by Swiss fragrances and flavouring producer Givaudan, will build a HUF 37bn (EUR 135.5mn) factory in Mako, southeastern Hungary, Budapest Business Journal reported. A total of HUF 1.2bn of the financing will come as grants from the Hungarian government. According to Givaudan CEO ,Gilles Andrier, the company will start to relocate production from its bases in Bromborough, England, and Kemptthal, Switzerland, to Hungary in early 2012 and the plant in Mako will reach full capacity in 2013. As many as 300 workers will be occupied in the plant and about 1,200 people from the region will be indirectly employed. Givaudan plans to boost the share of revenues from emerging markets from the current 41% to 50% in the next five years.
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