CORPORATE BRIEFS

Matador building new truck tire factory in Púchov

Continental Matador, a German-Slovak joint venture that produces truck tires, began to build a new production hall in Púchov in western Slovakia on August 9. The factory will cost a projected 58 million Slovak crowns ($1.4 million), and should be finished by February 28, 2000.

Continental Matador is a joint venture between the German tiremaker Continental AG Hannover and the Slovak firm of Matador Púchov. It was founded on January 7, 1999, and expects to generate a 1999 turnover of 150 million DEM (over 3 billion crowns). Investments in the joint company will total 190 million DEM (about 4 billion crowns) by 2001, securing jobs for approximately 800 employees.

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