The Italian owned company, Cantone Kft has recently announced that it would invest around 7Bln HUF (around 19.5 million EUR) into building one of the largest freezers in Hungary. Világgazdaság reported that the investment is expected to be finished by 2022, which will make the Catone Kft one of the largest freezer logistical centres in Central- and Easter Europe. The new facility will add an extra 70% to its current capacity and the company will create at least 30 new jobs in the region. The company expects its revenue to double as a result of this investment.
The Catone Kft is among the 10 largest Italian companies in Hungary and just like ITL Group, it started its operation in Hungary in 1995. According to Világgazdaság, the company is developing and expanding its operation constantly, despite mounting economic concerns due to the coronavirus pandemic.
Content: Catone trucks
In addition to Catone Kft’s new investment in facilities, the company recently bought 40 new Renault T520 SC trucks as well. Tringer Zoltán, Renault Trucks Eastern Region’s executive manager, commented that they were glad that companies, after the initial shock from the pandemic, have started to invest again. He claimed that this order was their second largest this year and due to the ongoing pandemic, the payment construction is flexible. This way, both companies bear some risk, but it is necessary to keep the economy going.
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