Gebruder Weiss to invest 3 mln euros in Hungary

The Austrian-owned logistics companyis planning to begin operations at a new location in eastern Hungary, which would serve exporters to eastern Europe.

Gebruder Weiss invested €4.7 million
in Hungary in 2007, including construction of a new,
5,500-square-meter transfer-loading warehouse facility near Budapest.
The company created 45 workplaces in Hungary in 2007 and currently
employs 240 people in the country at its 23,500 square meters of
logistics facilities. This year the company is planning to invest
other €3 million in Hungary this year to develop its logistics
services in the country.

The Hungarian unit of Gebrüder
Weiss, Austria's largest family-owned transport and logistics service
provider, posted EUR 34.6 million revenues in 2007, 22% more than a
year earlier, by which it excelled the parent company's performance
(+9% yr/yr), contributing greatly to the overall growth of the
concern. The GW group had a turnover of EUR 950 m at a stable
cash-flow of EUR 55 m in 2007. The company has subsidaries in
Germany, Chech Republic, Italy, Slovakia, Hungary, Slovenia, Croatia,
Serbia, Bulgaria, Romania and Ukraine.