THE BIGGEST growth among Slovakia’s companies in this year’s Deloitte Central Europe Top 500 came from those in the automotive sector. Four car subcontractors advanced significantly among the top 500 companies when measured according to their sales for 2011. Púchov-based tyre producer Continental Matador Rubber, its sister company Continental Matador Truck Tires and Johnson Controls International registered sales rises of between 42 and 54 percent last year. The fourth company to make it into the ranking is Mobis Slovakia, which manufactures axles for Žilina-based carmaker Kia Motors Slovakia. All these companies were propelled by the production power of carmakers, the Hospodárske Noviny financial daily wrote in early September.
The Slovak arm of the German car producer Volkswagen has maintained the leading position among Slovak companies in the ranking, ending 17th, followed by the Slovnaft refinery in 20th.
Juraj Ižvolt, public relations manager for Continental Matador Rubber, attributes the company’s leap among the top 500 to the increase in its production capacity in line with the expansion plans the company started to fulfil in 2008. The growth in production capacity was enabled by a strong increase in demand in Europe, the revival of the market after the recession and the introduction of laws requiring the use of winter tyres in some European countries.
Johnson Controls would not comment on its 2011 results, other than to ascribe its 30-percent growth to the automotive industry in eastern Europe, the growth of its sales centre in Bratislava and its research and development centre in Trenčín.
Eva Sadovská, an analyst with Poštová Banka, expects the positive trend to continue.
“With regard to this year’s development of the automotive industry the above mentioned carmakers’ subcontractors might hold on to their positions in the top 500 during the following evaluation period, and I do not rule out their advancing to higher rankings,” said Sadovská.
17. Sep 2012 at 0:00 | Compiled by Spectator staff