EMCC European Monitoring Centre on Change

Teves

Company/Organisation:
Teves

Geographic Location

Country: Slovakia
Region: Banskobystricky kraj; Stredne Slovensko
Location of affected unit(s): Zvolen

Company

Sector: Manufacturing
Manufacture of transport equipment
29.3 - Manufacture of parts and accessories for motor vehicles
Group: Continental

Employment Effects

Announcement Date: 28-10-2004
Type of Restructuring: Business expansion
Employment Effect Start: 01-12-2005
Foreseen End Date: 31-12-2008
Planned Job Creation: 500

Additional Information

Continental Corporation decided to invest €60 million between 2004 and 2008 in Slovakia. A new production unit, Teves, will manufacture elements of car breaks for the expanding automotive industry in the region. Low local labour cost was the main decisive factor considered for the investment. In February 2006, the Slovak Government decided to support the project by providing a state aid amounting to SKK 413.5 million.