ENGINEERING company Matador will invest millions of euros into constructing a plant and creating dozens of new jobs in China. Co-owner of the firm, Slovak businessman Štefan Rosina, said he wants to produce body parts, cables and lights for cars there, the Hospodárske Noviny daily reported in its November 19 issue.
“I believe that we will pursue the project by the end of next year,” Rosina told Hospodárske Noviny.
When explaining their reasons for expanding in China, Rosina said that every carmaker wants to be followed by its suppliers. Many European automotive firms which need service operate in the country, he added.
The step has its logic, Radek Schmied, partner at Redbaenk, told Hospodárke Noviny, adding that China will become one of the two biggest automotive markets in the world in the next five years.
This investment will be first of its kind on the Chinese market, the daily wrote.
Source: Hospodárske Noviny
Compiled by Radka Minarechová from press reports
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