IN SHORT

Forstinger to open in Slovakia

AUSTRIAN trade and service firm, Forstinger is entering the Slovak market, creating some 100 new jobs.

The company will open its first foreign subsidiary in Bratislava's Shopping Palace on March 17, offering over 200,000 automotive products, parts and services, the TASR news agency reported.

"This is the first time in its 40-year history that the company has expanded beyond Austria's borders," said Karl-Heinz Wörle, of Forstinger's Slovak subsidiary.

Forstinger chose Slovakia mainly because of good market conditions and its proximity to Austria.

In the next few years, the company plans to open eight to ten Slovak branches, each of which will employ 10 to 12 people.

Forstinger's 2003 turnover was €120 million, increasing in 2004 to €124 million. In 2005, turnover is expected to increase a further two to four percent for the year.

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