FRENCH multinational company Valeo Security Systems (VSS) announced that it would invest millions of euros in Eastern Slovakia over the next few years.
VSS officials signed a memorandum with Economy Minister Pavol Rusko, acting on behalf of the government, to invest €16.4 million in constructing a plant in the Košce Pereš industrial park, the TASR news agency reported.
The VSS investment should create up to 700 jobs within three years, said Rusko.
VSS plans to supply vehicle security systems for Slovakia's fast-developing automotive industry.
It will work with French carmaker PSA's factories in Trnava and with South Korean Kia Motors in Žilina.
VSS chose to invest in Slovakia because of its favourable geographical position and high number of qualified personnel.
7. Feb 2005 at 0:00 | From press reports