Spectator on facebook

Spectator on facebook

IN SHORT

Kronospan threatens to desert Slovakia

SLOVAKIA still cannot be sure of a Sk4 billion (€105.5 million) investment project from Cypriot wood-processing firm Kronospan Holding.

The company is threatening to scrap plans to build a new plant in Prešov and relocate all of its existing production facilities in Prešov and Zvolen to another country if it does not receive the state investment stimuli it wants, the Hospodárske noviny daily wrote.

Kronospan is demanding around Sk6.3 billion (€167,000) in the form of tax relief.

"We will not comment on the level of state support for Kronospan, or any other details. Such information is confidential, according to an agreement with the investor," said SARIO spokesman Michal Novota.

However, Economy Ministry spokesman Robert Beňo pointed out that, according to new investment stimuli regulations, the project could only receive state support worth 23.4 percent of the value of the investment.

The Economy Ministry says that it is taking Kronospan's threat to switch to a different country very seriously; especially as the construction work on the new plant has not yet begun.

Kronospan SK is currently the only manufacturer in Slovakia of materials for a special type of laminated floor. At the moment the planks it intended to produce in Prešov for these floors have to be imported from Germany and Poland.

Kronospan SK employs around 550 people. The new plant would create 200 jobs in Prešov, and lead to another 350 new jobs central Slovakia.

Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.