IN SHORT

Giesecke & Devrient to produce smart cards

GERMAN smart-card manufacturer Giesecke & Devrient said that it would launch Slovak subsidiary operations towards the end of October following the recent completion of its factory at Nitra's industrial park.

According to Karsten Ottenberg from the Giesecke & Devrient Group, the investment will total €20 million (Sk767 million) and create 200 new jobs, TASR wrote.

The factory that will produce smart cards for telecom, healthcare, identification and the banking sectors covers an area of 19,000 square metres saw construction begin in November of last year.

The Munich-based Giesecke & Devrient Group has a total of 52 subsidiaries employing 7,500 people, including 4,000 employees outside Germany. The group had an annual turnover of €1.24 billion in 2005.

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