Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

EC green light for state aid to bring new LCD TV factory to Slovakia

THE EUROPEAN Commission announced on July 2 that it will allow Slovakia to provide state aid of €65 million to help the South Korean electronics group Samsung to build a plant making LCD screens in Voderady, western Slovakia. Samsung will invest over €320 million in the construction of the plant that should employ 1,200. Another 3,700 jobs are expected to be created in supplier companies, the ČTK newswire wrote.

THE EUROPEAN Commission announced on July 2 that it will allow Slovakia to provide state aid of €65 million to help the South Korean electronics group Samsung to build a plant making LCD screens in Voderady, western Slovakia. Samsung will invest over €320 million in the construction of the plant that should employ 1,200. Another 3,700 jobs are expected to be created in supplier companies, the ČTK newswire wrote.

Samsung began construction last year, with completion expected by 2011. The state aid will come in the form of direct subsidies as well as tax relief.

According to Neelie Kroes, European Commissioner for Competition, the Samsung project will strengthen the competitiveness not just of Slovakia but all of Europe in the fast-developing consumer electronics industry, which to date has been concentrated in south-east Asia.

Samsung selected Voderady because of its proximity to two other electronics operations. Samsung operates a plant

in Galanta, only 50 km from Voderady, and also supplies materials to Sony, which makes LCD TVs in nearby Nitra.


The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Movies under an open sky feel differently than in an air-conditioned cinema Photo

The popularity of outdoor cinemas is increasing in Bratislava

Bažant Kinematograf on the Magio Pláž beach

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Top 3 news from Last Week in Slovakia Video

Slovakia to buy 14 American fighter jets.

This archive picture from 2014 shows an older model of the F-16 fighter jets.