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JLR draws investor from US

American producer of car components to hire about 500 people.

(Source: SME)

The plan of the British carmaker Jaguar Land Rover (JLR) to build a brand new plant near Nitra will lure another large investment to Slovakia. US machinery company Altra Industrial Motion will build a brand new plant in Zlaté Moravce for production of car components. The €18-million plant should employ roughly 500 people, the Hospodársake Noviny daily informed.

“Negotiations with clients are still ongoing,” Miroslav Vrban, the head of the development company Ardis that will build the plant for the US company told the daily. “If everything goes properly, construction of the plant will start at the beginning of next year.”

Read also: Read also:Construction of Jaguar plant may begin

Zlaté Moravce mayor Dušan Husár sees this as the investment of the decade.

“Altra already has one branch in the town,” Husár told the daily.

Bauer Gear Motor of the concern has been producing high performance motors in Zlaté Moravce since 2011. It employs about 300 people. Last year its revenues amounted to €28.5 million.  

Altra is one of the world leaders in production of power transmission components and motion control products. It has branches in more than 70 countries worldwide.

Unemployment in the town is quite low amounting to about 6.6 percent, while the average unemployment in Slovakia is still rather high exceeding 9 percent. But in spite of this the number of companies failing to fill their vacancies is increasing. 

Topic: Automotive


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