BRATISLAVA, March 30, (WEBNOVINY) — The U.S. company Honeywell International Inc.will receive EUR 19 million in investment stimuli from the state. A total of EUR 11.5 million is to be spent on the purchase of long-term tangible and intangible assets and more than EUR 7 million is to be provided in contributions for new jobs and nearly EUR 600,000 in the form of tax allowance. Based on a draft proposal for stimuli provision, which the Cabinet passed on Wednesday, the requested incentives per employee will reach nearly EUR 43,000.
Honeywell will invest EUR 38.3 million in a Presov-located manufacture of turbochargers for passenger cars and trucks. This project is expected to create 446 new jobs. As many as 335 individuals will be employed directly in production and the rest in administrative positions. Production start is slated for next year. The full production capacity is to be achieved in 2013, with 700,000 items. The output is to grow on an annual basis. The plan is that Honeywell makes 1.5 million turbochargers in Slovakia in 2015. The entire production is to be shipped abroad.
Honeywell is a technological and industrial conglomerate, seated in Morris Township, New Jersey. It supplies products and services related to aviation, control technologies for buildings, houses and industries, automotive production, turbochargers and special materials. Honeywell is listed on stock exchanges in New York, London and Chicago.
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