HONEYWELL, a US-based company, has chosen eastern Slovakia for a new factory . It started construction work on the facility in early August. The plant will manufacture turbochargers for passenger cars and trucks on a five-hectare plot in the IPZ Prešov-Záborské industrial park. Honeywell will invest €38.3 million and employ nearly 450 people in the plant’s first phase, the SITA newswire wrote.
Honeywell chose eastern Slovakia for several reasons, according to SITA, including several kinds of investment stimuli. The Slovak government provided investment incentives totalling €19.155 million, broken down into €11.5 million for purchase of long-term tangible and intangible assets, €7 million towards creation of new work positions and a tax holiday of almost €600,000. A 400-metre-long road giving access to the plant will also be built.
Prešov Mayor Pavol Hagyari said the production hall should be finished by the end of 2011 and production could be launched in the spring of 2012. The long-term prospect is to employ 600 people with an average wage between €700 and €800, above the regional average.
“This will be production by the first larger investor in our industrial park,” Hagyari stated in early August. “We are glad that the Slovak government supported it with investment incentives.”
Hagyari hopes that the IPZ Prešov-Záborské industrial park will be fully occupied within two years and provide jobs to between 1,200 and 1,500 people in the region.
Honeywell is a technological and industrial conglomerate based in New Jersey. It supplies products and services related to aviation, control technologies for buildings, houses and industries, automotive parts, turbochargers and speciality industrial materials.
3. Oct 2011 at 0:00 | Compiled by Spectator staff