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
On 30th April this year, AB Bank SNORAS business loan portfolio, in comparison to 31st December 2008, i.e. during the first four months of this year, grew by 74 million Litas or 3.8 per cent, while the business loan portfolio of the most banks operating in Lithuania was decreasing.
more »
London's financial district, Canary Wharf is transformed into a giant car showroom. Dozens of manufacturers and dealers have flocked to this part of the city to show off their latest models.
more »
In the latest edition of its 2009 survey, "ATMs and Cash Dispensers Central and Eastern Europe," Retail Banking Research Ltd. says the 15 countries it has tracked in CEE have once again shown exceptional growth.
more »
During the draw another five winners of the Danske Bankas monthly Scholarship award (a one off payment to the amount of 250 litas) were announced.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, plans notified by Sweden to provide guarantees that would enable Volvo Personvagnar to access loans from the European Investment Bank.
more »
The European Union signed an interim Economic Partnership Agreement (EPA) today with Botswana, Lesotho and Swaziland.
more »
Commission proposes to immediately free up €19bn in earmarked funds to fight unemployment as recession takes its toll.
more »
Danske Bankas would like to inform all present and future customers that, as of 1 July 2009, the cash withdrawing fee from Danske Bankas' ATM network in Lithuania is to change.
more »
One day not so far in the future, Europeans may be able to buy a loaf of bread knowing where the flour came from.
more »
General Motors is getting closer to filing what would be the largest industrial bankruptcy in US history.
more »