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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
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