Bekaert Slovakia will invest some €36 million to expand its plant in Sládkovičovo that makes cord and bead wire for tires. The Economy Ministry reported that the project will open 287 new jobs and that the company has applied for state assistance, the SITA newswire reported.
SITA wrote that the Economy Ministry is suggesting state aid in the form of income tax relief of €8.4 million, meaning the state’s subsidy would be worth nearly €30,000 for each job. The average salary of new employees will be €815, SITA wrote, adding that the company plans to complete the expansion within two years.
Bekaert Slovakia was founded in 2000 by three companies within the Bekaert group, with Bekaert Holding B.V. controlling a 74 percent majority stake.
Compiled by Zuzana Vilikovská from press reports
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