Getrag Ford Transmissions, a joint venture between U.S. automaker Ford Motor Co. and Germany's Getrag Group, announced Thursday it plans to build a $400 million auto parts plant in eastern Slovakia
Published:
9 December 2004 y., Thursday
Getrag Ford Transmissions, a joint venture between U.S. automaker Ford Motor Co. and Germany's Getrag Group, announced Thursday it plans to build a $400 million auto parts plant in eastern Slovakia.
The company said it plans to build a production facility for new-technology transmissions. Production is tentatively set to start in early 2007.
The new plant should employ about 750 people and be located in an industrial park in eastern Slovakia. Its entire production will be targeted for export, mainly within the European Union.
According to a news release, Slovakia's Ministry of Economy and Getrag Ford Transmissions signed a memorandum of understanding in which the company expressed its intention to establish a new production facility in Slovakia.
The Slovak government still needs to approve the investment as the plan also includes investment incentives of up to three billion koruna ($102 million). Economics Minister Pavol Rusko said he expects the government to deal with the issue early next year.
"Slovakia is an excellent potential location for our planned investments," Tobias Hagenmeyer, CEO at Getrag Ford Transmissions, said in the statement. "We very much hope that we will be able to develop our plans successfully with the Slovakian government and reach a final agreement shortly."
Šaltinis:
thestate.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission today concluded on the existence of excessive deficits in Cyprus, Denmark and Finland and recommended deadlines for their correction to the Council.
more »
Over 2000 former construction workers in Spain and nearly 600 ex-employees of Irish glass company Waterford Crystal and its suppliers will receive a total of €11 million in aid from the EU Globalisation Adjustment Fund to help with training, business start-ups and job guidance under plans agreed by MEPs and the Council of Ministers.
more »
MEPs on Tuesday decided six top priorities and a number of additional key issues for the upcoming negotiations on the 2011 budget.
more »
The EU-China Science and Technology Week starts today at the heart of World Expo Shanghai.
more »
European Climate Action Commissioner Connie Hedegaard and European Investment Bank President Philippe Maystadt agreed on Monday to explore a joint climate finance initiative for developing countries as part of the European Union commitment made at the UN climate conference in Copenhagen last December.
more »
Sustainability, competitiveness and security of energy supply: the three pillars to the foundation of a new EU energy community.
more »
EU Trade Commissioner Karel De Gucht and Palestinian Minister of National Economy Hasan Abu-Libdeh today discussed measures to enhance EU-Palestinian bilateral trade relations and to facilitate trade of Palestinian products to EU markets.
more »
Some of the most innovative and exciting transport research projects funded by the EU are being showcased at the Transport Research Arena (TRA) in Brussels this week.
more »
Nowadays we rely heavily on satellite positioning and navigation, but the only available technology is American.
more »
The European Commission will reveal how it aims to revamp its transport networks policy in response to the challenges of the 21st century at a conference dedicated to the Trans-European Transport Network (TEN-T) in Zaragoza on 8 and 9 June.
more »