Amerikai Magyar Szó, 1992. január-június (46. évfolyam, 1-26. szám)
1992-03-19 / 12. szám
Thursday, March 19.1992 AMERIKAI MAGYAR SZO 7 HUNGARY TODAY Gamma Works of Budapest is one of the twenty Hungarian companies for the privatization of which the State Property Agency called a competition recently. On the photo: final quality control of a medical-purpose computer made against a Brazilian order. Philips of the Netherlands gradually builds up its own nationwide retail network in Hungary. One of the latest stores was opened in Miskolc (Northeast Hungary). Osamu Suzuki, President of the Suzuki Motor Corporation and István Lepsényi, General Manager of Autókonszern,signing the foundation documents of the joint venture As a result of import liberalization, the imports and purchases of western cars have increased considerably in Hungary. On the photo: a new Renault dealership was recently opened in Szeged (South Hungary). In Nyíregyháza the then Royal Hungarian Tobacco Monopoly established in 1890 the tobacco procurement supervisory authority, as it was then called, and hence its successor, the Tobacco Fermentation Company, celebrates this year its one-hundredth anniversary. The Company, which has contracts with 89 large farms and 3,200 private producers, provides 70 percent of Hungary's tobacco production and has export sales of approximately 3,5 million dollars annually. The high capacity fermenting equipi- ment, which can be seen on the photo, was supplied by a British Firm. United Biscuits Company (UK) at Győr. Halfway between Vienna and Budapest, UBC, the second biggest biscuit producer of the world, founded a joint venture company: Győr Keksz Limited Liability Company. The British firm owns 84 per cent of the equity. Nestlé buys confectionery company The Nestle' Group has bought Hungary's Szerencs Confectionery Company (NE Hungary) and has set up a new company called Intercsokolade (Interchocolate) Nestle PLC, which is currently undergoing registration here. Interchocolate's capital is 3 billion forints (41 million US dollars), and Szerencs Town Council has a 3 percent stake in it for contributing the site. Szerencs Confectionery Company has a 20 percent slice of the Hungarian sweets and biscuit market. Last year, it had an income of 3 billion forints, profits of 131 million forints, and exports worth 5.5 million US dollars. Interchocolate's management intends boosting production capacities by 50 percent. They also plan a new investment worth 4 billion forints over the next four years, which will comprise building a new factory expressly for making Nestlé brand products. As a result, Interchocolate hopes to multiply exports considerably within the next few years.
