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HEINZ ANNOUNCES JOINT VENTURE TO ACQUIRE HUNGARIAN FOOD PROCESSOR

HEINZ ANNOUNCES JOINT VENTURE TO ACQUIRE HUNGARIAN FOOD PROCESSOR
 PITTSBURGH, Aug. 27 /PRNewswire/ -- H.J. Heinz Company (NYSE: HNZ) today announced a joint venture to acquire Kecskemeti Konzervgyar R.T. of Kecskemet, Hungary, a state-owned canning company located 50 miles south of Budapest.
 Heinz's partner in the joint venture is Hillsdown Holdings Plc. of London, one of the United Kingdom's leading international food groups.
 Kecskemeti, a well-established company, markets a broad range of processed foods including baby foods; tomato paste, powder and sauces; salad dressings; canned sweet corn and peas; pickles; and jams. In addition to selling its products within Hungary, Kecskemeti exports to Russia, Ukraine, Germany, Switzerland and the United States.
 The joint venture will be known as Magyar Foods Limited.
 Terms of the agreement have not been disclosed.
 /delval/
 -0- 8/27/92
 /CONTACT: D. Edward I. Smyth, vp-Corporate Affairs, 412-456-5780, or Debora S. Foster, general manager-Corporate Communications, 412-456-5778, both of H.J. Heinz; or John E. Kennedy or L. Michael Kelly Jr. of Ketchum Public Relations, 412-456-3586 or 412-456-3840, for H.J. Heinz/
 (HNZ) CO: H.J. Heinz Company; Kecskemeti Konzervgyar R.T.; Hillsdown
 Holdings Plc. ST: Pennsylvania IN: FOD SU: TNM


DM -- PG001 -- 3913 08/27/92 11:32 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:204
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