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BUSINESS SHORTS

Osram expands production in Slovakia

GERMANY'S Osram company, one of the largest lighting manufacturers in the world, is preparing a significant expansion of its production in Slovakia, the Hospodárske Noviny business daily wrote.

The company plans to double its revenues over the next five years and install new production technologies in Nové Zámky, in Nitra Region. It also plans to invest in expanding its research and development centre, as well as educational and social programmes for employees.

Osram's daughter company, Osram Slovakia, has been operating in Nové Zámky since 1995. It is the group's largest plant in Europe.

In the 2006-07 fiscal year, the Slovak daughter company had a turnover of Sk2.7 billion (€80.5 million), and employed 2,100 people.

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