BRATISLAVA, August 27, (WEBNOVINY) – Slovakia will support two investment projects with EUR 9.9 million. On Friday, the Cabinet approved investment incentives for the companies Embraco Slovakia, s.r.o. and LVD S3, a.s. The state provided the company Embraco with incentives in amount of EUR 6.5 million, thereof grants for the purchase of long-term tangible and intangible assets should represent EUR 2.7 million, contribution to newly created jobs EUR 1.5 million, and relief on income tax EUR 2.3 million. The Cabinet also approved the provision of government aid to the company LVD S3 in amount of EUR 3.4 million, thereof grants for the purchase of long-term tangible assets should represent EUR 1.8 million, contribution to newly created jobs over EUR 1.1 million, and relief on income tax nearly EUR 525 thousand.
The company Embraco Slovakia plans to invest EUR 13.5 million in a factory located in Spisska Nova Ves. The aim of its investment plan is the introduction of a new global platform EM3 compressor production, which represents the latest technology on the refrigeration hermetic compressors market. The investor should create 300 new jobs directly in the factory. Another 100 jobs should be created through the Embraco´s investment plan by local suppliers. Company Embraco in Spisska Nova Ves produces compressors, currently employs 1,800 workers, and leases further 350 through employment agencies. Embraco Slovakia belongs to the Brazilian Embraco group.
Company LVD S3 plans to invest nearly EUR 6.9 million in the construction of a factory for the production of metal forming machinery in Tornala. As the result of this investment, 250 new jobs should be created in four years in the district of Revuca in southern Slovakia. The investor wants to start the construction of the factory in the third quarter of this year, while the start of the production in the factory is scheduled on July 2012. The investor wants to achieve the full output of the production in 2013. Company LVD S3, which was founded in 2010, is a subsidiary in full ownership of the LVD Company n.v. based in Belgium.
SITA
