Government grants assistance to companies across Slovakia

The Government okayed state assistance for a number of manufacturing firms at its August 28 session.

The Government okayed state assistance for a number of manufacturing firms at its August 28 session.

As proposed by the Economy Ministry, the US company Johnson Controls Innotec Technologies will receive investment assistance worth €4.1 million towards expanding its production site in Lučenec, the TASR newswire wrote. One part of the package is expected to come in the form of tax relief (€3.86 million) and the other via a subsidy for long-term tangible property (€240,000). The assistance is due to be awarded in exchange for the company's plan to invest €8.2 million in a new plant for producing metal components for seat head-rests in passenger vehicles in the Lučenec area between 2012 and 2015, a move that is set to create 125 new jobs.

Another company to be granted assistance of €3.6 million in the form of tax relief is car-components manufacturer Miba Sinter Slovakia, a member of the international Miba Sinter Group based in Laarkirchen, Austria. The company is planning to build two facilities for developing and producing cogwheels to be used in the car industry at its plant in Dolný Kubin.

“The investment project envisages the creation of 120 new jobs by the end of 2014. The company currently employs 628 people, and this number could climb to 748,” reads the Economy Ministry-sponsored proposal approved by the government. The total “justified investment” for the project is at least €13.65 million, the company stated.

The third recipient is Banská Bystrica-based company Gevorkyan, currently employing 79 people, which is set to receive an investment stimulus of €1.51 million in the form of tax relief. The assistance will help the company expand its powder metallurgy production plant, which mainly supplies the automotive, oil and cosmetics industries. According to the ministry, the company is set to invest €7.57 million between 2013 and 2016 and create 44 new jobs.

The Fiľakovo-based company Dometic Slovakia is expected to expand its production of cooking hobs, ovens, portable grills, marquees and control devices for air-conditioning systems for €5.46 million, creating 326 new jobs by the end of 2016. The government approved assistance worth €340,000 as a subsidy for long-term tangible property and another €2.664 million in the form of tax relief.

The last company awarded investment stimulus was the Slovak firm Michatek, which plans to expand its production capacities and invest a total of €5.7 million in its facility at the industrial park in Michalovce, increasing the number of its employees by 80 people. Michatek will receive assistance worth €2.85 million. The companies Gevorkyan, Miba Sinter, Johnson Controls, Dometic, and Michatek should invest almost €41 million in Slovakia and create nearly 700 new jobs.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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