THE SLOVAK company Matador plans to launch production of parts for the automotive industry, probably beginning next year, in Liberec in the Czech Republic. The company’s total investment in Liberec should amount to Sk250 million, Matador president Štefan Rosina told the ČTK newswire.
After having sold a majority share in its rubber-making division, Matador is now focused on production of car parts. According to Rosina, so far the volume of production has not been confirmed and the projects which the company will focus on are also still to be finalised.
Matador began producing car parts in 2004. Last year, it sold a majority share in its tyre-producing division to the German company Continental. Before the end of the year, it also plans to open a plant in the Czech town of Třinec, from where it will supply South Korean car producer Hyundai in Nošovice, in the Czech Republic. The plant, which will be launched as a joint venture with Matador Dongwon, will also serve as a source of semi-finished products and parts for the Liberec plant.
Construction of the Liberec plant should cost Kč100 million, according to Rosina; approximately €5 million (Kč126 million) more will go on equipment and other costs.
Matador had consolidated revenues of €119 million last year. The company wants to increase revenues by about two thirds by 2011.