IN SHORT

Dräxlmaier to pay Sk9m for abandoned project

AN OUT-OF-COURT settlement was signed on July 7 between the town of Rimavská Sobota and the German car-parts manufacturer on compensation the town should receive for a failed project.

The foreign investor, Dräxlmaier, had originally planned to produce car components at an industrial park in Rimavská Sobota but later decided to withdraw from the project. Dräxlmaier will pay the town compensation for investment-preparation costs worth Sk9 million (€234,222), the mayor of Rimavská Sobota Štefan Cifruš told TASR.

Although the town originally asked for more, the mayor said he was happy with the outcome of the agreement.

The company compensated the town for all expenses related to project preparation of the land worth Sk1.5 million. The intended parcels can still be used for a new industrial park project later on.

The town also demanded a further Sk13 million as expenses for the purchase of land. The investor agreed to pay only half this sum.

The town also demanded non-material damage worth Sk30 million, whereas Dräxlmaier agreed to pay only Sk1 million.

Rimavská Sobota lost the Sk700 million investment of Dräxlmaier in the middle of May. The car component supplier was supposed to create 1,200 jobs but close to signing the agreement, decided to pull out of the project and transfer the production capacity to its existing facilities in Romania.

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