IN SHORT OF BUSINESS

Zvolen courts auto investor - and wins

GERMAN investor Continental AG has announced plans to start building a factory in the Banská Bystrica region, near the city of Zvolen. The company, which ranks 10th in the world among suppliers of automobile brake systems, plans to invest €561.4 billion in Slovakia over the next five years, creating 510 jobs at the plant, the news agency TASR wrote.

The vice president of Continental AG, John Bowling, said that he expected operations to start by October 2005. The plant is expected to produce 5 million brake components annually - all for export.

The investor picked Slovakia over Poland and Romania because of its location in central Europe. Zvolen beat out other in-country potential sites for a combination of reasons.

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