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CORPORATE BRIEFS

Volkswagen sets up factory in Martin

The new production factory of the German concern Volkswagen (VW) will be built in Martin, in the suburb of Priekopa. The first phase of construction will require investment of 5.5 billion Sk ($157.1 million). In November 1999 there are to be some 500 to 600 people working in the factory. The company should produce goods worth 11.4 billion Sk ($325.7 million) per year. The factory in Martin will be the third most important activity of VW, after Volkswagen s.r.o. Bratislava and VW Electrical Systems s.r.o. Nitra. The German Volkswagen company will supply all necessary technology. Connection to infrastructure as well as land and construction of the production premises will be secured by DMD Holding a.s. Trenčín and ZŤS TEES a.s. Martin. The construction will be carried out by Váhostav a.s. Žilina and ZIPP s.r.o. Bratislava.

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