Continental Invests in Slovakia
Continental AG, has announced that it has signed a memorandum of understanding with the Ministry of Economy of the Slovak Republic. Continental’s Foundation Brakes business unit will be investing in a new production facility in Slovakia to produce brake calipers. In total the investment will amount to 60 million euros over the next five years, the company told a press conference in Bratislava. The facility will produce high performance front and rear brake calipers and will supply a number of European customers.
According to Continental, the new factory will be built in Zvolen, central Slovakia and will be start production in late 2005. Potentially up to 500 jobs could be created with positions in machining, assembly and engineering, during the next 5 years. The company says Slovakia was chosen on the basis of labour and transport costs. Another reason why Zvolen was short-listed was because of the availability of suitably qualified personnel, the company says.