Continental invests in Slovakia

ERJ staff report (LMH)

Hanover, Germany – Continental AG plans to expand its Slovak operations in an investment the Slovak government says is worth €250 million, according to Reuters.

The Slovakian Prime Minister was due to travel to Hanover, Germany, on 10 April to sign a memorandum of understanding on the investment, the newswire said.

The plan should create 600 jobs at the firm’s operations in Puchov in western Slovakia. A Continental spokesman confirmed the memorandum would be signed, but declined to comment on the volume of the investment or the number of jobs, saying the plan would be implemented gradually according to market conditions.

Reuters reported that if the plan is fully implemented, annual capacity at the plant would rise by 5 million tires compared with 11 million made last year.

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Article from Reuters