EMCC European Monitoring Centre on Change

Visteon Slovakia

Company/Organisation:
Visteon Slovakia

Geographic Location

Country: Slovakia
Region: Nitriansky kraj; Zapadne Slovensko
Location of affected unit(s): Nitra

Company

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

Employment Effects

Announcement Date: 14-10-2004
Type of Restructuring: Business expansion
Employment Effect Start: 30-04-2006
Foreseen End Date: 31-03-2010
Planned Job Creation: 508

Additional Information

In October 2004, management of German components manufacturer, Visteon, had decided in favour of a greenfield investment of about €40-50 million in Slovakia. The plant located near the city of Nitra will produce components for car cabins and air-condition systems as of spring 2006. With this investment, Visteon responded to the increased activities of car manufacturers PSA Citroën-Peugeot and Hyundai/Kia’s in Slovakia. Visteon now decided to also establish a new storage unit for components in Dubnica nad Váhom. This means that the company will create a total of 508 jobs in Slovakia within the next four years. The Slovak Government supports the investment by providing state aid of SKK 423 million. Around SKK 388 million will be used as direct financial support and SKK 27 million will subsidise training of employees.