Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: April 12, 2005

Hungary Nebotrade To Expand Factory for 1.6 Mln Euro

Hungarian biotech firm Nebotrade Kft plans to invest 400 mln Hungarian forints ($2.1 mln/1.6 mln euro) in the expansion of its microbiology culture medium producing factory, it was reported on April 12, 2005. U.S.-based venture capital fund Primus Capital Partners LLP has acquired a 21 pct stake in Nebotrade and would financially help the company in its future development, Nebotrade's financial director, Otto Levai said. Primus Capital Partners LLP will aim at increasing its stake in Nebotrade to 61 pct over the next three years, Levai added. Nebotrade eyes between 15 pct to 20 pct year-on-year growth in its 2005 revenue, Levai said. [Editor's note: Nebotrade closed 2004 with a revenue of over 300 mln forints ($1.6 mln/1.2 mln euro), the Budapest Business Journal (BBJ) said on March 28, 2005. The company exports its culture medium to 12 countries worldwide, BBJ added.] (Note: All figures/comparisons as given by the source.) www.hoppbonn.hu

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