US Honeywell eyes EUR 19mn in state aid for Slovakian project.

By bne IntelliNews March 25, 2011
Diversified U.S. manufacturer Honeywell, which plans to invest EUR 38mn in a car-turbocharger plant in Slovakia, expects to receive EUR 19mn in subsidy package from the government, TASR news agency reported. Some EUR 11.5mn are to be spent on the purchase of long-term tangible and intangible assets, EUR 7mn on job-creation and almost EUR 600,000 in the form of tax allowances. Honeywell's plant will be built in Presov, eastern Slovakia, and will employ 446 people. Production is expected to start in 2012. The company will initially make 300,000 turbochargers a year and consequently raise the output to 1.5mn turbochargers in 2015. Honeywell chose Slovakia over Poland for the project in late-December.

Related Articles

Slovakia one of possible locations for new BMW plant.

German car maker BMW considers building a new plant in eastern Europe and Slovakia is one of the potential locations, Hospodarske Noviny business daily reported citing BMW's board member Ian ... more

Slovakia jobless rate edges down to 14.7% in February 2013.

Slovakia's unemployment rate in February 2013 fell for the first time in six months going down to 14.7% from 14.8% in January when it reached its highest level in more than 8.5 years, data from ... more

Frances CCN Group considers new plant in Slovakia - report.

France-based CCN Group, a supplier of components for turbines and automobiles, considers building a new plant in Slovakia in the town of Belusa, Hospodarske Noviny daily reported citing unnamed ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335