The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
508 jobs Number of planned job creations
Announcement Date
14 October 2004
Employment effect (start)
30 April 2006
Foreseen end date
31 March 2010
Description
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.
Sources
28 March 2006: SME
14 October 2004: SME
Citation
Eurofound (2004), Visteon Slovakia, Business expansion in Slovakia, factsheet number 60687, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60687.
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