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Swiss investor to bring 500 jobs to hungry valley in northern Slovakia

Mubea will manufacture car parts in Kežmarok Industrial Park.

Kežmarok Mayor Ján Ferenčák, PM Peter Pellegrini, Mubea owner Thomas Muhr and Economy Minister Peter Žiga, from left, tapping the foundation stone of the brand new Mubea plant in Kežmarok Industrial Park. (Source: TASR)

A new investor is heading to Kežmarok in northern Slovakia, bringing in 500 jobs, including 100 positions in research and development. Kežmarok along with the neighbouring districts of Sabinov and Levoča belong to the least developed districts of this region.

Thomas Muhr, owner of the Swiss company Mubea, Prime Minister Peter Pellegrini, Economy Minister Peter Žiga and Kežmarok Mayor Ján Ferenčák officially launched the construction of a brand-new plant for the production of car parts on June 23.

“We tapped the foundation stone of a very significant investment here in Kežmarok, which has been ranked among the least developed districts for a long time,” said Pellegrini, as cited by the TASR newswire. “I am not only pleased by the fact that it will bring assembly jobs, but also some 100 positions in the field of research and development, which is in line with our new policy of supporting investments with higher added value.”

Mubea plans to invest over €50 million in the district while it has asked for state financial aid of almost €15 million. The cabinet will decide on the investment aid for the company itself, as well as on investment activities for the municipality related to the completion of the Kežmarok Industrial Park.

This aid will be provided in two forms: in the form of tax relief and in the form of direct money for purchasing investment assets. The aid will amount to €14 million, chiefly in the form of tax relief, informed Minister Žiga.

The cabinet will assist Kežmarok with a subsidy of some €2 million. The subsidy will go towards construction work related to a road relocation and the adjustment of a railway crossing in the aforementioned industrial park.

Pellegrini believes that not only people from the district of Kežmarok, but also from the surrounding region will find jobs there. The unemployment rate in the Kežmarok district amounted to almost 15 percent this April. The Slovak average employment rate is above 5 percent.

Swiss company Mubea Engineering AG is engaged in producing car components. The Kežmarok plant should launch production in the first half of 2019. In 2025, when it is expected to run to its full capacity, the plant should annually produce 24 million stabiliser bars and 30 million car clamps. All production will be exported to other EU countries.

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Topic: Automotive

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