BUSINESS IN SHORT

Daily: Trenčín investor in trouble

ONE OF the largest investment projects in Slovakia, an electronics plant owned by Taiwan’s AU Optronics in Trenčín, is in serious trouble and the investing firm has decided to quit production of LCD modules, the Hospodárske Noviny daily reported on September 5. It wrote that AU Optronics is now reporting a lack of orders.

ONE OF the largest investment projects in Slovakia, an electronics plant owned by Taiwan’s AU Optronics in Trenčín, is in serious trouble and the investing firm has decided to quit production of LCD modules, the Hospodárske Noviny daily reported on September 5. It wrote that AU Optronics is now reporting a lack of orders.

AU Optronics could face sanctions from the Slovak Republic, since it pledged to create 519 job positions this year in exchange for state investment aid of over €38 million, but has not done so, the daily reported.

The Economy Ministry is not aware of any problems in the Trenčín-based plant, the TASR newswire reported. The state has not paid any of the financial stimulus to the company yet, according to the ministry’s spokesperson Stanislav Jurikovič.

“We are still waiting for the decision of the European Commission, which is binding for the ministry,” he said as quoted by TASR.

AU Optronics has pledged to invest €191 million in Slovakia and employ 1,300 people by 2013. The company management did not specify how many employees the plant has at the moment. Hospodárske Noviny quoted some employees as saying that the company is “going down the drain” and said 30 people had left it in the previous week.

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