VW Slovakia starts building EUR 90mn press shop.

By bne IntelliNews October 27, 2011
The Bratislava plant of German car maker Volkswagen started on Wednesday the construction of a new press shop for EUR 90mn, SITA news agency reported. The investment will create 100 new jobs. The press shop is an important milestone on our path to growth. Production will intensify and it will also have positive influence on the time of circulation of materials and logistics processes, head of VW Slovakia, Andreas Tostmann said. The press shop will spread over an area of 19,242 sq m and will process steel and aluminum sheets into various car parts. Production of pressed parts is slated to start at the end of 2013, as the daily output is projected at 19,000 parts. The German car maker, which started its operations in Slovakia in 1991, now runs three plants in the country. The plant in Bratislava produces sport utility vehicles (SUVs), the Volkswagen Touareg, Audi Q7, parts of the Porsche Cayenne and gearboxes. The factory in Martin makes chassis and gearbox components and the unit in Kosice prepares vehicles to be exported to Russia. VW Slovakia produced 94,600 cars in the first half of 2011, 45% more than a year ago. It plans to produce 400,000 new cars next year. The company, which is one of the biggest investors and exporters in Slovakia, has produced over 2.5 million vehicles for the past 20 years. It had 7,000 employees at end-2010 and has said it would hire 1,500 new staff by end-2011. VW Slovakia reported a net profit of EUR 75mn in 2010, up 31.6% y/y.

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