The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17 - Manufacture of paper and paper products
500 jobs Number of planned job creations
Announcement Date
22 November 2005
Employment effect (start)
21 November 2005
Foreseen end date
30 June 2006
Description
Swedish company SCA has started production in its Slovak subsidiary. 1.5 billion SKK was invested in the new production lines. According to the Financial Director of SCA Hygiene Products Slovakia Anna Balážová, most of the production will be exported to markets in Western Europe. The management expects the new investment to contribute to increase the annual sales revenue to SKK 5 billion. Since the company is to create lots of new jobs in a region with high unemployment rate, the management asked the Slovak Government for an investment stimulus of SKK 45 million.
According to the information of 4 May 2006 the Slovak Government will provide investment stimulus in amount of SKK 200 million of which SKK 83,7 million will be a direct state aid and the rest will concern reduced corporate tax.
Sources
4 May 2006: Hospodárske noviny
22 November 2005: Hospodárske noviny
Citation
Eurofound (2005), SCA Hygiene Products Slovakia, Business expansion in Slovakia, factsheet number 62562, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62562.
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