K+P Chem to set up HUF 5 bn plant in E Hungary

Chemical company K+P Chem will establish a 5.14 billion forint (EUR 15.4m) plant making cosmetic ingredients in Szolnok, in central Hungary, creating 50 jobs. The investment is supported with a 450 million forint grant by the Hungarian government, considering the high value-added of the company's activity and the fact that it supplies materials for some of the biggest international companies, Foreign Minister Peter Szijjarto said on Thursday. The company is a supplier to Procter and Gamble, Unilever, Henkel, and its products are also used by brands like Palmolive and Colgate. Szijjarto said the fact that this was the first time the company had opened a plant outside the Mediterranean region where it already had four factories was "another success for Hungary".