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
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »