British American Tobacco (BAT) is to Build a new smokeless production center in Hungary
British American Tobacco (BAT) is making a significant move in Hungary, establishing a new smokeless product production center in Pécs and creating 450 new jobs. The HUF 60 billion (EUR 152 million) investment marks a major commitment to the region and positions Pécs as a global hub for BAT's smoke-free alternatives.
Key Points:
- New Production Center: A state-of-the-art facility will be built in Pécs, focusing on the production of smokeless tobacco products.
- Job Creation: The project will create 450 new jobs, providing a significant boost to the local economy.
- Largest Single Investment: This HUF 60 billion investment is one of the biggest one-off investments ever made in Pécs.
- Expanding Presence: BAT already employs nearly 1,000 people in Hungary, and this investment underscores their long-term commitment to the country.
- Focus on Exports: Over 80% of the smokeless products manufactured in Pécs will be exported internationally.
- Shifting Focus: The Hungarian government is prioritizing attracting investment to southwestern Hungary, with a focus on economic development in the region.
- Smoke-Free Future: BAT emphasizes this investment as a step towards a smoke-free future, offering smokers better alternatives to cigarettes.
- Strategic Importance: The Pécs center plays a crucial role in BAT's goal of generating 50% of its revenue from new category products (like smokeless alternatives) by 2035.
This investment by BAT is a positive development for Hungary, bringing economic growth, job creation, and a focus on innovation in the tobacco industry. It also highlights the government's efforts to promote balanced development across the country.
Investor
British American Tobacco (BAT)
Outbound region
Inbound region
Industry
Date of record
19 April 2024
