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Second Oldest Hungarian-Owned Company Expands with HUF 6 Billion

Hungary Today 2023.10.20.

Preserving the sovereignty of the Hungarian economy and strengthening self-sufficiency have become key issues in the currently dangerous times, Finance Minister Mihály Varga stressed at the inauguration of the healthcare development of Caola Ltd. With the HUF 6 billion (EUR 15.6 million) greenfield investment in Martonvásár (central Hungary), Caola has expanded with a 4,000 square meter production hall for disinfectants, reports Világgazdaság.

“The very first and most important step of the period after the change of government in 2010, was when we transformed the Hungarian economy to a work-based economy, and we achieved the goal of creating one million new jobs,” emphasized Finance Minister Mihály Varga, adding that this could only be achieved in partnership with economic actors.

The government has maintained high employment despite the crises of recent years and intends to increase it further in the coming years,

he added.

Speaking about Caola Ltd.’s investment in Martonvásár, the minister noted that the new plant of the long-established, traditional Hungarian company will enable the production of surgical disinfectants, hand, skin,  and surface disinfectants, thus further strengthening the much broader profile of the company, which started out as a cosmetics company. The co-chairman pointed out that the developments show that the new owner who rescued the company

will be able to give a new impetus to Hungary’s second oldest company, which is still Hungarian-owned.

Varga explained that 83 healthcare developments have been implemented with the support of the government under the Healthcare Industry Support Program, with a total value of HUF 87 billion (EUR 227 million), including the current investment.

Fact

Caola Ltd. is a 100% Hungarian-owned company, active in the market since its foundation in 1831. The cosmetic and household chemical products are sought after and loved all over the country, and are popular in many other European countries as well. The company’s aim is innovation and renewal. Their wide range of products spans women’s and men’s cosmetics, baby care, household cleaning products, insecticides, and disinfectants for the healthcare and agricultural sectors. In recent years, the management made an important decision and in 2021, started a greenfield investment, building a new factory. In line with the principles of Industry 4.0, they have installed a new, modern production and dispensing machine park. The new equipment allows automated recipe tracking, while the dispensing machines are controlled by automated software.

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Via Világgazdaság, Featured image via Facebook/Caola Zrt.


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