- 22 Sep 2010 1:00 AM
One of the new owners Manufaktura Befekteto is allegedly investing some HUF 730 million, partly by acquiring a 49% stake in Zsolnay from the Pecs City Council, which plans to ultimately reduce its stake to a mere 10%, providing investors honor their obligations.
A lot of emphasis will most likely go towards marketing the porcelain as in-fighting over the past decades surrounding the ownership of the company has taken its toll. Sources close to Budapest Report said that after the fall of communism in Hungary in 1989 the government was slow to restore the company to its original owners. The Zsolnay family was also divided over the restitution and compensation process of the firm and reportedly production at the plant slowed down to an all time low.
One of the strongest marketing products of Zsolnay’s in the past was their graceful colored ceramic roof tiles. Japanese tourists would travel all the way from japan to Budapest just to see the ceramic tiles in their natural state on some of Hungary’s historic protected buildings. As production increases the company is recruiting new workers and contributing to the decrease of high unemployment in the county."
By Tamas S. Kiss, published on XpatLoop.com with the permission of BudapestReport.com