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 Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »