VW Slovakia to invest EUR 85mn in press shop at Bratislava plant.

By bne IntelliNews February 24, 2011
Volkswagen Slovakia, the local unit of German car group Volkswagen, will invest EUR 85mn to build a press shop at its plant in Bratislava, SITA news agency reported. The shop will cover a 19,000-sq m area and will have a daily capacity of 580 containers of sheet metal. Its construction is planned to start in the second half of the year and to be completed by end-2012. The project will create 100 jobs. Earlier this month, the company said it will invest EUR 1bn in the next five years to boost car and parts production in the country. Volkswagen, one of the biggest investors and exporters in Slovakia, has invested more than EUR 1.7bn since it started operating in the country 20 years ago. The plant in Slovakia produces Volkswagen Tuareg SUVs, Audi Q7 and Porsche Cayenne. It was badly affected by the economic crisis in 2009 with turnover dropping to EUR 2.94bn. However, the company reported a recovery in H1 2010 with turnover jumping by 37% y/y and car output by 43% y/y. Gearboxes and components production also developed well, increasing by 78% y/y and 63% y/y, respectively.
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