Japanese Minebea to invest EUR100m by 2022 in Slovakia

Japanese corporation Minebea Mitsumi has opened officially a newly built plant in Kosice, eastern Slovakia. The facility will produce mainly motors for automotive applications. Minebea Mitsumi will invest EUR100m in the new plant by 2022 and will have about 2,000 employees by that time. Besides a manufacturing base, the plant also functions as the second R&D base that will cooperate with the existing European R&D base, Precision Motors Deutsche Minebea GmbH (PMDM). Consequently, more than 100 engineers will be hired. In the future, the product range will be expanded to automotive antennas and LED backlights. The investor comments that the new plant enables a full-scale entry to European supply chain. Minebea Mitsumi aims at expanding the automotive and industrial machinery business further in Europe, reducing foreign exchange risk and tariff, realizing savings in logistics and speeding-up product delivery. The plant is built on a land plot with an area of 100,000 square meters and has a building area of 26,000 square meters. Recall that in order to support the investment, the government approved an investment aid worth almost EUR 20mn last year.

On a different note, investment company Centrop, managed by Reform Capital, has applied to the economy ministry for a significant investment certificate with the aim to secure cheaper price of land for the construction of a new industrial park near Volkswagen’s Bratislava plant. The park is planned to have an area of 101 hectares. In the first stage, the investment is expected to be EUR130m, to increase later to EUR400m. Note that the construction works started back in 2011 but have been delayed because of problems with changing the zoning plan, as well as high prices asked by some land owners. If a major investment status is granted, then the industrial park is likely to be constructed in half a year. Reform Capital representatives estimate that some 3,000 new jobs could be created in the new industrial park.

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