K&H Bank representatives reported yesterday that organic white-button mushroom and compost producer Bio-Fungi has finished its HUF 900 million expansion begun last year. Thanks to the investment, financed by K&H Bank, the Ócsa farm has been able to increase its production capacity by 50% and has created 40 new jobs.
Contributing to the HUF 900 million were a national grant and a six-year investment loan provided by K&H, in addition to the company’s own resources.
For 2012, Bio-Fungi reported net income of HUF 611 million on revenue of HUF 4.7 billion from the Ócsa farm and the Szentkirály-based compost plant. The company currently employs a combined 162 at the two facilities. In May, the company embarked on a project to produce a strain of mushrooms with three to five times the regular amount of Vitamin D.
First beginning industrial production in the 1920s, Hungary is one of the European Union’s leading exporters of mushrooms, producing 27,000 tons annually and exporting up to 45%. Of this amount, over 90% goes to EU member states.
