MOBIS Slovakia, the main subcontractor to carmaker Kia Motors Slovakia, will receive government investment aid of €5.6 million from the Slovak government to expand its factory in Slovakia. The Fico cabinet approved the aid at a meeting on July 10. The money will be delivered in the form of a tax holiday between 2014 and 2016.
Mobis Slovakia wants to expand its production facilities to manufacture new types of products including electronic power steering systems and electric parking brake systems. It will invest more than €46 million into the extension of its existing factory near Žilina. The expansion should create nearly 190 new jobs.
The main customers of the new production will be Kia Motors Slovakia and Hyundai Motor Manufacturing in the Czech Republic, but only 10 percent of the new output will be exported.
Mobis Slovakia was set up in February 2004 in Gbeľany, Žilina Region.
29. Jul 2013 at 0:00 | Compiled by Spectator staff