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Rusko announces new FDIs in Slovakia

SLOVAK Economy Minister Pavol Rusko announced Taiwanese and Danish plans for new Foreign Direct Investments in Slovakia, the TASR news agency reported.

Taiwan's TECO will invest $25 million (Sk713 million) in the production of LCD screens, in collaboration with Orava firm OVP.

TECO will start with between 40 and 50 employees in Slovakia but expects that number to rise swiftly as production steps up.

The Taiwanese company's production target for 2005 is 50,000 screens, worth €40 million.

Denmark's Glunz and Jensen plans to invest Sk380 million (€10 million) in the production of graphic and film equipment in Prešov region.

An initial workforce of 50 is expected to increase to from between 200 and 400.

Compiled by Magdalena MacLeod from press reports
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