Lonstroff to invest 43 mln euros to build Slovenian factory
18/04/2018 16:41
LJUBLJANA, April 18 (Reuters) - Swiss polymer maker
Lonstroff AG plans to invest around 43 million euros ($53
million) to build a factory in Slovenia that will create 180
jobs by mid-2020, the Slovenian government said on Wednesday.
The government will also provide 4.8 million euros in total
financial aid for the factory, which will start production next
year, the economy ministry said.
Lonstroff, owned by Japan's Sumitomo Rubber Industries
5110.T , will start building the medical elastomere factory in
Logatec, 30 kilometres (19 miles) southeast of Ljubljana, next
month, the economy ministry said. Lonstroff was not available to
comment immediately.
Slovenia has provided financial incentives to various
companies in recent years as it seeks to attract foreign
investment to boost economic growth and create jobs. They
included Canadian car parts maker Magna International MG.TO
and Japanese electrical equipment producer Yaskawa 6506.T ,
which are both building factories in the country. urn:newsml:reuters.com:*:nL5N1GT5TR
The ministry said the 4.8 million euros of aid for Lonstroff
would be split into 910,000 euros made available this year and
another 3.89 million a year later.
The figure includes financial help of 657,000 euros that was
approved by the government last week. The rest was approved by
the Ministry of Economy. urn:newsml:reuters.com:*:nL8N1RP4S9
"New investments such as this one are a proof of Slovenia's
economic revival under the mandate of this government," Prime
Minister Miro Cerar said in a statement after the economy
ministry signed a financial incentives contract with Lonstroff
on Wednesday.
($1 = 0.8074 euros)
(Reporting By Marja Novak; Editing by Susan Fenton)
((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))