P&G announces its new investments and celebrates 25 years of growing together with Hungary

P&G announces its new investments and celebrates 25 years of growing together with Hungary

Ms. Geraldine Huse P&G - Péter Szijjártó Minister of Foreign Affairs and Trade

On behalf of P&G, Ms. Geraldine Huse, CEO and Chairman of the Board for P&G Central Europe announced two new investments in Hungary and signed a Strategic Cooperation Agreement with the Hungarian Government, represented by Mr. Péter Szijjártó, Minister of Foreign Affairs and Trade. Over the past quarter of a century, P&G has invested over USD 300 million in its Hungarian operations and evolved into an important investor and employer in Hungary.

The Procter & Gamble Company, founded in 1837 started as a soap and candle manufacturing family business, has grown into one of the world-leading FMCG companies with about 65 brands. P&G has operations in over 70 countries worldwide and is present in more than 180 countries all over the world with high quality products.

P&G has operations in Hungary since 1991. Over the past 25 years the Hungarian subsidy has grown into an organization of over 1200 people with a portfolio of more than 20 innovative trusted brands. Today, P&G operates two state-of-the-art manufacturing facilities: A Feminine Care plant in Csömör, celebrating together with the company its 25th anniversary and the Baby Care plant in Gyöngyös, opened in early 2014. The plants manufacture innovative products to over 50 markets globally.

"Throughout our journey we remained committed to continuously bringing innovation to Hungary, serving the Hungarian consumers, investing in state-of-the-art manufacturing facilities, creating a modern working environment and contributing to the growth of the Country" – said Geraldine Huse, CEO and Chairman of the Board for P&G in Central Europe.

Ms. Geraldine Huse, Marek Busch P&G - Szijjarto Péter MFAT

Ms. Geraldine Huse, Marek Busch P&G - Szijjarto Péter MFAT

At the event, a Strategic Cooperation Agreement was signed between P&G and the Hungarian Government. The agreement confirms the intention of the US company and the Hungarian Government to grow together for years to come. P&G appreciates the investment climate in Hungary, the talent of Hungarian employees and a quality infrastructure.

P&G intends to continue growing together with Hungary. The Company has made a decision that Braun packaging operations as well as assembly and packaging operations for some Oral B products will be conducted in Hungary, at the Gyöngyös plant. Additionally, P&G is expanding its manufacturing facilities in Csömör with state-of-the art technology, to manufacture a new generation of pads. Together, these investments exceed 200 million USD and will result in the creation of around 250 manufacturing jobs.

Procter & Gamble is the 70th strategic partner of the Hungarian Government so far. The purpose of the strategic partnership programme is the promotion of the re-investment of companies already established in Hungary, an increase in employment, implementation of production of higher added value, integration of companies in vocational training and the development of stronger ties with domestic suppliers. The strategic partners of the Hungarian government provide work to over 200,000 people and are currently employing 15,000 more people than at the time of the conclusion of the strategic agreements.