AUSTRIAN company Miba Friction Group plans to invest up to €20 million and create 150 new jobs in Vráble, western Slovakia.
Miba will manufacture clutch and brake components for trucks and heavy-duty vehicles.
Alfred Hortenhuber, director of Miba said that construction of the new 12,000 square-metre plant will start in December and is set to be finished by the end of 2005.
"The plant should be running at full capacity by late 2006," said Hortenhuber.
After it launches operations in Vráble, it will shut down its production plant in the UK.
"We have an old plant in England and we are closing it due to construction and technical problems," said Hortenhuber.
The firm chose Slovakia because of its good infrastructure, favourable labour market terms, and tax policy.
Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
23. Nov 2004 at 10:43