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CONTINENTAL TOBACCO INAUGURATES HUF 1.1 BN EXPANSION

 

The local unit of Germany’s Continental Tobacco inaugurated a 1.1 billion forint (EUR 4m) expansion at its base in Sátoraljaújhely, in north-eastern Hungary. Continental Dohányipari was awarded a 544 million forint grant from the government for the project, the biggest the company has ever received, said CEO Csaba Füzi. Finance Minister Mihály Varga noted the grant was of a type the government awards to big companies ineligible for European Union funding. The investment will broaden the product palette to include tobacco for water pipes as well as cigarillos. It will raise headcount by 20 to 420.