Honeywell, others to invest in Slovakia

Honeywell International Inc. will invest 38.3 million euros ($53.4 million) in Slovakia to build a turbocharger plant, creating some 450 jobs, the economy ministry said on Monday.

Economy Minister Juraj Miskov said the plant would be located near the eastern town of Presov.

The government of Prime Minister Iveta Radicova will debate in coming weeks a state subsidy scheme for the U.S. conglomerate, including tax breaks.

Miskov said IBM (IBM.N), AT&T (T.N), Johnson Controls (JCI.N), Hewlett-Packard (HPQ.N) also plan to boost their investments, confirming earlier reports. He said the projects would create up to 1,900 new jobs.

All the companies currently operate back-office, customer care, client support or cost centres.

The Slovak Investment and Trade Development Agency (SARIO) said it was in talks with 20 foreign investors about possible projects, without specifying names or timelines.

($1=.7177 Euro)

(Reporting by Martin Santa; Editing by John Stonestreet)

Source: Reuters


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