Uflex invests in Hungary

By 28 Nov 2018

Noida-based Uflex has announced an investment of euro 70 million in Hungary to manufacture a special kind of foil.

image
The Flex Film Europa plant in Poland

The new establishment in Hungary will be a 100% subsidiary of Flex Films Europa. This will be Uflex’s second plant in Europe, the other being Poland.
Ashok Chaturvedi, chairman, Uflex Group, said, “It was my dream to invest in Hungary for a long time, however, as we say in India, ‘whenever time comes, than it happens’.” 
Chaturvedi said the Hungary plant will produce 50,000 tonnes of foils annually by 2020. He also added that the investment will create 170 jobs.
Chaturvedi also thanked the Hungarian Investment Promotion Agency (HIPA) for their help to make the investment possible. “I think this support will encourage us to do more investment in Hungary,” he added.


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