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Product data: Budapest Investments is privatization managing company appointed by Hungarian State Property Agency for Kaposvar meat processing plant. Kaposvar seeks partner either to purchase whole company or to form joint venture to increase equity. Specifications/technical data: cold store (completed in 1990) has 2,000 mt capacity; capacity of slaughterhouse/ processing plants 450,000 pigs and 10,000 cattle P.A. Quantity: NA. U.S.
dollar value: value of properties Kaposvar meat plant owns is US$15 million.
Purchase needed by: joint venture partner sought within this year. Kaposvar
conforms to EC and USDA standards (supplier of ham to U.S. for long time) as well as to U.S. Army hygienic requirements on production.
Response data: From manufacturers only: professional and/or financial investors required. Language: English. Best way to respond: phone. Information desired: company profile, experience, background. Primary buying factor: has to be privatized by Hungarian law within this year. Hungarian financial institutions have shown interest in joint operation, but equity capital requirement higher than locally available.
Company data: Government-owned. Established: 1889, latest renovation 1958. Employees: 1,000. Annual sales: US$50 million. Member of business chamber: Hungarian Chamber of Commerce. Bank ref: K&H Bank, H-1054 Budapest, Akademia U.L-3., Hungary. U.S. firms represented: none, but several U.S. firms import products. Major export markets: U.S., western/northern European countries. Has excellent relationships with former Comecon countries. Brand names under which products marketed abroad include Excelsior, Celebrity, Csardas.
Post remarks: Budapest Investments PLC is appointed privatization manager. This means that in case of purchasing Kaposvar plant or setting up joint venture, buyer/partner will obtain properties that are free from any lawsuit or mortgage. It is task of Budapest Investments to negotiate with creditors. Working capital required from U.S. partner. Kaposvar has no outstanding debt.
Contact: James Messer, Special Assistant to CEO, Budapest Investments PLC, H- 1074 Budapest, Csengery U.LL., Hungary. Tel: 361 121-4005, 122-5243. Fax: 361 122-1860.
Please send a copy of your response to:
Commercial Section (FCS TOP), American Embassy, Budapest, APO AE 09213-5270. Refer to: P0060.
Hungary - Joint Venture Abroad
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