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Handtmann investing Sk1 bn in Kechnec

HANDTMANN, a German engineering firm, has announced plans to build a plant worth over Sk1 billion (€26.5 million) in the Kechnec industrial park in Eastern Slovakia. The Handtmann factory will create 360 new jobs, the Pravda daily wrote.

"We signed a preliminary agreement. State support for the investor must now be approved by the government," Kechnec Mayor Jozef Konkoly said.

According to Konkoly, Handtmann wants to launch production of gearbox casings and engine parts in September 2006. The plant will occupy three hectares in the local industrial park.

Handtmann also wants to cooperate with Getrag Ford Transmissions, a German-American company that is currently building a transmissions factory in Kechnec.

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