Business

Dámtej on the move

Dairy company Dámtej Kft will soon move from Tamási, southwestern Hungary, to nearby Kaposvár and change its name to Fino-Tej Kft, shareholder László Egyed told Világgazdaság. The reason for the move is that the company needs upgrade its production processes anyway to bring it in line with EU regulation, and Kaposvár is a more convenient location for ease of supplies. The new plant will have a milk processing capacity of 20 million liters per year, in comparison to the current 10 million-12 million liters. Majority owned by suppliers, the company has a product portfolio mostly consisting of cheese and heavy on premium products. It employs a staff of 100 and expects Ft 1.6 billion in sales in 2005 after this year's Ft 1.5 billion revenue. (Vg 16) P.P.