BUSINESS SHORTS

Austrian Miba AG opens new factory in Slovakia

AUSTRIAN engineering group Miba AG officially opened a plant for the production of clutch discs and brake plates in Vráble on September 20.

The plant, operating under the name Miba Steeltec, currently employs 230 people, the SITA newswire wrote.

The company invested €20 million (Sk679 million) into the project. The plant will manufacture 13 million pieces of metal product annually.

When the factory reaches its full capacity, its annual turnover is expected to be €25 million.

The chairman of the board of directors, Peter Mitterbauer, announced that the company's facilities may be expanded in the future.

The company is a member of the Miba Friction Group. Miba also owns the Miba Sinter Slovakia plant in Dolný Kubín, which produces powder metallurgic products, steel and bronze bearings.

Miba AG is a partner and supplier of the international engineering and automotive industry.

Compiled by Spectator staff from press reports

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