Implementation agreement with Getrag Ford signed

ECONOMY Minister Ľubomír Jahnátek signed an implementation agreement with James
Sheenan, statutory representative of Getrag Ford Transmissions Slovakia, as well as with plant director Bernard Maury.

Based on the agreement, Getrag Ford will build a new plant in Kechnec in eastern Slovakia for producing and mounting PowerShift transmission components for motorbikes and cars, the SITA news agency wrote.

The company plans to invest over Sk10 billion and to create 780 new jobs. Overall state aid given to the company amounts to Sk2 billion, of which Sk1.5 billion will be grants for investment costs, including a subsidy for education. Income tax relief reaches Sk500 million. State aid per new job will thus amount to Sk2.6 million.

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