26. November 2012 at 00:00

Continental expands in Slovakia

THE GERMAN company Continental, which has been producing components for cars’ brakes, continues to expand in Slovakia. It will build a new storage hall in Zvolen.

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THE GERMAN company Continental, which has been producing components for cars’ brakes, continues to expand in Slovakia. It will build a new storage hall in Zvolen.

“The further expansion of the company is currently in the approval process at the company’s headquarters,” Nicole Geissler, the vice-president for communications told the TASR newswire in relation to investment stimuli recently approved by the Slovak cabinet. Construction should begin in 2013.

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Continental Automotive Systems Slovakia applied for investment stimuli in December 2009, but the Slovak cabinet green-lighted the stimuli only some weeks ago.

The company is planning to invest another €25 million in Zvolen and employ 500 people, and has requested a tax holiday of €4.5 million. It has already employed a portion of its planned staff. The plant currently employs about 600 people.

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