Honeywell to Set Up a Turbocharger Plant in Slovakia

BRATISLAVA, Slovakia - US-based Honeywell International Inc. plans to invest €38.3 million in building a turbocharger manufacturing plant near the eastern Slovakian city of Presov, in the ’Zaborske pri Presove’ industrial park, the country’s Economy Minister Juraj Miskov announced on Monday.

The investment is expected to create about 450 jobs by 2016. Under plan, the newly created subsidiary Honeywell Turbo s.r.o. will produce 300,000 turbochargers in 2012, with production gradually increasing until 2015. The Slovak Government will decide on the amount of subsidies and tax breaks in the upcoming weeks.