GERMAN investor Continental AG has announced plans to start building a factory in the Banská Bystrica region, near the city of Zvolen. The company, which ranks 10th in the world among suppliers of automobile brake systems, plans to invest €56 million (Sk1.4 billion) in Slovakia over the next five years, creating 510 jobs at the plant, the news agency TASR wrote.
Speaking at a news conference in Zvolen November 5, the vice president of Continental AG, John Bowling, said that he expected operations to start by October 2005. The plant is expected to produce 5 million brake components annually – all for export.
The investor picked Slovakia over Poland and Romania because of its location in central Europe. Zvolen beat out other in-country potential sites for a combination of reasons.
"We took into account qualified workers and cost, as well as the price of our products and proximity to customers," Bowling told reporters.
Compiled by Marta Ďurianová from press reports
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