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Government approves investment subsidies for two firms

The Slovak government approved state subsidies for two companies, Kamax and Crown Bevcan Slovakia, as part of its individual, targeted anti-crisis measures on March 18, the TASR newswire reported.

The Slovak government approved state subsidies for two companies, Kamax and Crown Bevcan Slovakia, as part of its individual, targeted anti-crisis measures on March 18, the TASR newswire reported.

Kamax, a car-components manufacturer will receive €3.47 million to expand production and create 150 new jobs. The subsidy includes tax relief worth €1.656 million and a direct investment contribution of €1.815 million. The company plans to invest an additional €6.9 million between 2008 and 2011.

Crown Bevcan Slovakia will be provided with investment aid of €5.46 million to build and operate a can production facility in the Kosice region. The company plans to invest €39.73 million in 2009, while 108 new jobs should be created at the facility by 2010. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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