THE GERMAN company Continental, which has been producing components for cars’ brakes, continues to expand in Slovakia. It will build a new storage hall in Zvolen.
“The further expansion of the company is currently in the approval process at the company’s headquarters,” Nicole Geissler, the vice-president for communications told the TASR newswire in relation to investment stimuli recently approved by the Slovak cabinet. Construction should begin in 2013.
Continental Automotive Systems Slovakia applied for investment stimuli in December 2009, but the Slovak cabinet green-lighted the stimuli only some weeks ago.
The company is planning to invest another €25 million in Zvolen and employ 500 people, and has requested a tax holiday of €4.5 million. It has already employed a portion of its planned staff. The plant currently employs about 600 people.