Big German investment targets Slovakia

GERMAN concern Schaeffler, which operates INA Skalica and INA Kysuce engineering plants in Slovakia, plans to create 1,000 new jobs in the next three years. This figure does not have to be final as the German investor could give work to approximately 1,600 people thanks to new investments, the Hospodárske Noviny daily reported in its February 28 issue.

GERMAN concern Schaeffler, which operates INA Skalica and INA Kysuce engineering plants in Slovakia, plans to create 1,000 new jobs in the next three years. This figure does not have to be final as the German investor could give work to approximately 1,600 people thanks to new investments, the Hospodárske Noviny daily reported in its February 28 issue.

The company will mostly seek engineering experts, but some 200 people will find jobs in research and development. The investments in manufacture of new products will amount to together €210 million.

Moreover, the company will also move part of its production from Germany to Slovakia. The country benefited mostly from the high qualification of employees. In return, Schaeffler has already applied for two investment stimuli and is presently waiting for their approval. Economy Ministry spokesman Stanislav Jurikovič told Hospodárske Noviny that it is premature to talk about the investment assistance.

The company is asking for investment aid for the second time. Last year the cabinet approved tax relief of €3.36 million, Hospodárske Noviny wrote.

Finance Minister Peter Kažimír and Economy Minister Tomáš Malatinský discussed the investment with representatives of Schaeffler directly in Germany, where they accompanied President Ivan Gašparovič on his official visit to the country.

They also met with representatives of tyre producer Continental, which owns the facilities in Púchov, Dolné Vestenice (both in Trenčín Region) and Zvolen (Banská Bystrica Region). The firm plans to expand the facility in Púchov to make it the company’s largest plant), the TASR newswire wrote.

Source: HN, TASR

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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