Slovenia to grant financial aid for Lonstroff factory
12/04/2018 14:45
LJUBLJANA, April 12 (Reuters) - Slovenia will grant 657,000
euros ($809,292) in financial aid to Swiss elastomers company
Lonstroff AG to support its plan to build a factory in Slovenia,
the government said on Thursday.
Lonstroff is a member of Japanese Sumitomo Rubber Group
5110.T . The factory, to be built in Logatec, 30 kilometers
Southeast of Ljubljana, will make medical elastomer products.
"The signing of the contract on financial incentive is
expected on April 18 ... while the building of the new factory
is due to start on May 17," the government said in a statement
after its regular weekly meeting.
The centre-left government has been trying to increase
foreign investment in the country to boost economic growth and
create new jobs. It expects the country's economy to expand by
5.1 percent this year versus 5 percent in 2017, mainly on
account of higher exports and investments.
In the past years, Slovenia has provided financial
incentives to various companies, including Canadian car parts
maker Magna MG.TO and Japanese electrical equipment producer
Yaskawa 6506.T which are both building new factories in the
country. urn:newsml:reuters.com:*:nL5N1GT5TR
($1 = 0.8127 euros)
(Reporting By Marja Novak. Editing by Jane Merriman)
((Marja.Novak@thomsonreuters.com; +386-1-5058805, Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))