Type
Business expansion
Country
Hungary
Region
Dunantul; Kozep-Dunantul; Veszprem
Location of affected unit(s)
Veszprém
Sector
Wholesale / Retail
Retail trade
Retail sale of food, beverages and tobacco
47.2 - Retail sale of food, beverages and tobacco

130 jobs
Number of planned job creations
Job creation
Announcement Date
9 November 2016
Employment effect (start)
Foreseen end date

Description

Penny Market - a Germany-based discount supermarket chain - has laid the cornerstone of its third logistics base in Hungary. The logistics base will be built in Veszprém and it will supply approximately 60 Penny Market stores in the region. The HUF 7.7 billion investment ( cca. 25 million EURO) will create 130 new jobs. The company employs 3,730 people in Hungary and opened 270 stores in Hungary during 2016.


Sources

  • 9 November 2016: Napi.hu
  • 10 November 2016: BBJ

Citation

Eurofound (2016), Penny Market, Business expansion in Hungary, factsheet number 89415, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89415.