Company history

Reconstruction works start in the central factory. As a result of a half a billion Hungarian forint investment project, the pig cleaning technology line is changed and a new cattle cutting line is installed together with a casing processing plant, which fully satisfies Western export requirements.

446.000 pigs are slaughtered and over 50% of the stock is purchased from small private farmers.

The company trust breaks up and the company becomes independent.

The company realises a structural reorganisation and establishes four 100% self-owned private limited companies, which are: Pick Farm Pig Slaughtering Ltd. (Szentes), Pick Central Pig Fattening Ltd. (Szeged), Pick Transport and Logistics Ltd. (Szeged) and Butcher Meat and Dry Product Producing Ltd. (Makó).

On 30^th June, Pick becomes a share-holding company. It is incorporated by the Szeged Company Court in August with a capital of 2.27 billion Hungarian forints under the name of PICK SZEGED Salami Factory and Meat Processing Plant Share-Holding Company.

In November, PICK shares start to be issued. In the first round, 100.000 shares can be bought at a nominal value of HUF 1000 in cash, while 113.500 shares can be bought for compensation vouchers. The selling price for the cash shares is HUF 1200. After the sales of shares to foreigners preceding the Hungarian issue of shares, the foreign stake is 30.3%.