Company history

In June, at the open issue of PI CK shares the issue rate is HUF 6200. Foreign investors overlist the available volume of shares on the first day but because of the domestic investors, listing is completed only later. The new equity capital of the company is HUF 2657 million. The capital raise is mainly needed for the acquisition of HERZ Salami Factory and the necessary investments.

In August, the House of Traders opens its gates at the headquarters.

In October PICK wins the privatisation tender for the purchase of Szeged Éliker Rt.

In November the 125^th jubilee anniversary is held.

In December, in a binding decision, the Supreme Court refuses the claim of PICK heirs to limit the use of the word PICK in the company name.

In February in order to mitigate the negative effects of the fluctuating livestock market, the company buys a pig fattening farm near Szeged (in Tápé) thus expanding its own pig fattening base.

In April, a new outlet of the PICK shops’ chain is opened up in Kecskemét.

In May a new retail outlet is opened in Budapest Great Market Hall. The PICK heirs doubt the right of the company to use its current company name and also the lawful use of the PICK brandname. The Court of Budapest in its binding decision refuses their claim, which ends the name and brandname lawsuits in Hungary with the success of the company. Later the Pick heirs appealed against the use of the trademark registered in the USA but their claim was refused there as well.

In September the official (audited) introduction of the quality management system according to ISO 9001 standards takes place.