Simonstein & Henriks Corporation chooses eastern Slovakia

THE US FINANCIAL group Simonstein & Henriks Finance Corporation today officially announced its intention to invest about Sk16.5 billion (€438 million) in eastern Slovakia's Špišský Hrhov.

The Slovak state investment agency, SARIO, said the corporation would build a greenfield factory on 100 hectares of property.

"The plant should supply products for the car industry and will create about 1,000 new jobs, which will have a considerable impact on the growth of employment in a region where the jobless rate exceeds 15 percent," SARIO spokesman Michal Novota told the press.

Simonstein & Henriks are represented in the transaction by the Akerman Advisory Association consultant company.

"We decided to use the advantages of the Slovak investment environment and put a production company in Spišský Hrhov. I hope we will get through all the necessary negotiations as soon as possible and start to produce a whole variety of products for cars, vans and boats at the end of 2008 as intended," said Gérard Leroux, the CEO of the Ackerman Advisory Association.

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