Paper Manufacturer Invests Norwegian Profits into New Factory and Jobs

Vajda-Papír is using profits generated in Norway to build a new factory in Dunaföldvár, Tolna County, with the government supporting the project with 25 billion forints (65 million euros), the Minister of Foreign Affairs and Trade announced on Tuesday at the groundbreaking ceremony.

Péter Szijjártó reminded those present at the event that the Hungarian government has launched a support program under which Hungarian companies can receive special financial assistance if they bring their profits earned abroad back home and convert them into investments.

Vajda-Papír is creating 64 jobs in Dunaföldvár with its profits generated in Norway, and its investments totaling 71 billion forints (184 million euros) will significantly increase production capacity,

the minister said. This will also enable the domestic production of wet wipes to begin, which is important insofar as this product has previously been imported into Hungary.

With a focus on renewable energy, the company is also building a solar park, which will make it significantly more competitive, and is launching a training program to provide employees with the latest knowledge in the fields of IT and the paper industry.

According to the head of the department, Vajda-Papír is a real success story, an important player in Hungarian household paper production and one of the most modern hygiene paper companies in Europe. The company works almost exclusively with Hungarian suppliers and offers development opportunities to small and medium-sized enterprises in Dunaföldvár, Paks, and other surrounding areas. According to the minister, the company employs almost 600 people domestically and 700 abroad, and exports to 30 countries.

From the perspective of the Hungarian economy, the growth in exports is particularly significant, and with the increase in production capacity, economic growth is gaining new momentum,”

FM Szijjártó emphasized, highlighting that Vajda-Papír is training the skilled workers of the future in cooperation with Óbuda University and the vocational training program of the paper industry in Dunaújváros.

Founding CEO Attila Vajda said that the company’s vertically integrated production and supply structure is competitive, sustainable, and export-oriented in the long term, ensuring Hungary’s self-sufficiency when needed.

With the help of innovative product development and state-of-the-art, energy-efficient technology, the Hungarian-owned company can expand its market-leading position in the manufacture of hygiene paper products to other countries in the region and further increase its exports,”

he said, adding that the company is planning further developments in the coming years, including investments related to the use of renewable energy.

The Vajda-Papír Kft. plant in Dunaföldvár, Tolna County. Photo: MTI/Máthé Zoltán

The Vajda-Papír Group exports to more than 30 countries and has a significant market presence in Central and Eastern Europe, the Baltic States, and Scandinavia. Vajda-Papír covers a large part of domestic demand and sells 60% of its production on foreign markets. The Hungarian family-owned company employs a total of more than 700 people at group level – at three locations in Hungary and one in Norway.

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