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British technology firm to invest in Slovakia

LONDON-based company STB Advanced Technology announced on Monday September 5 that it intends to invest in Slovakia in the field of advanced technology, and create some 4,000-5,000 new jobs, the TASR news wire reported.

"In the second half of 2006, the company will begin to realize an investment worth €1 billion (Sk38.5 billion) in eastern Slovakia, probably in the Košice or Prešov region," STB spokesman Jan Immer told the TASR news agency.

Among other activities, the company specializes in the funding of research and development, as it owns unique patents for the most advanced technology, said Immer.

STB Advanced Technology plans to build and begin operating two plants in the space of two years. One plant will produce electronic and semi-conducting silicon, while the other will produce pure titanium. This will make Slovakia one of the world's top producers of this strategic metal.

According to Immer, in years to come the company plans to build yet more plants producing magnesium and boron based products, as well as its own research and development centre. Slovak companies will be hired to carry out the construction work, he added.

Compiled by Magdalena MacLeod from press reports
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