THE ITALIAN company Brovedani is planning to invest Sk811.5 million (€26.94 million) to expand its plant in Galanta in western Slovakia. According to a proposal for provision of investment assistance which the Economy Ministry has sent for interdepartmental review, the project will create 170 jobs. The ministry is proposing to provide the company with a tax allowance amounting to a maximum of Sk163.5 million. The Cabinet must first approve the plan, the SITA newswire reported on November 13.
The expansion would mean the Italian maker of micro-components for the automotive industry would thereby increase production at its factory from the current 178,000 to 720,000 items annually. Ninety percent of these products are intended for export. Project implementation should start in late 2008, with completion planned for the end of 2009. Expansion of production should be completed in the second quarter of 2011. According to the proposal, the average monthly wage in the factory would be Sk23,675 (€785.87).
The Italian firm Brovedani has been operating in Slovakia since 2004. It currently employs about 100 people.
24. Nov 2008 at 0:00 | Compiled by Spectator staff from press reports