Tobacco processing has begun in the new preparation hall of Continental Tobacco Plc.'s tobacco factory in Sátoraljaújhely, NE Hungary, marking another milestone in the company's nearly HUF 10 billion investment, the company told the state news agency MTI on Monday.
Continental Tobacco started the investment at the beginning of 2021, which includes the construction of a three-story plant hall with a total floor area of 1,800 square meters per floor, equipped with modern machinery and a total floor area of around 5,400 square meters.
As the final phase of the project, the company will shut down the existing tobacco prefabrication production line, which is still in operation and also produces traditional tobacco cuttings, at the beginning of September and will start the complete modernization of the remaining elements.
The new plant is scheduled to be commissioned in December 2022.
It was highlighted that, following the full handover, the plant's tobacco cut-to-size capacity will be increased by around 25% and the machinery installed will enable significantly more advanced tobacco preparation than before, further enhancing the competitiveness of the Continental Tobacco Group. The development will also help the company to create additional jobs in the region.
The Continental Tobacco Group is an independent, Hungarian family-owned private company that combines several tobacco companies operating in Europe and currently employs around 700 people.
The Group's products are known throughout the Hungarian market and are available in more than 30 countries as a result of its export activities. The group includes Dofer Tobacco Fermenting Ltd. in Szolnok, which is responsible for the tobacco leaf processing process in addition to the production of tobacco, and the tobacco factory in Sátoraljaújhely, which is more than 130 years old. The group also has subsidiaries in Italy, Germany, Romania and Slovakia.
According to publicly available company data, Continental Tobacco Plc. generated sales of HUF 56.414 billion last year, up from HUF 46.967 billion in 2020. The company closed 2021 with a profit of HUF 6.354 billion, compared to a profit after tax of HUF 5.938 billion in 2020.
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