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Deutsche Telekom invested one billion euro ($842.5 million) to purchase majority of fixed-line monopoly Slovenske Telekomunikacie (Slovak Telecom).
HypoVereinsbank Slovakia a.s., earlier Hypo-Bank Slovakia, a subsidiary of Bavarian Hypo-Bank, HypoVereinsbank.
Fermas s.r.o. was established in
December 1992 (and officially registered in January 1993) as a joint-venture of
Frankfurt-based Degussa AG (51%) and
the Slovak Biotika a.s. (49%). In
October 1998, Biotika sold its shares to Degussa, so today Fermas is a 100% subsidiary
company of Degussa.
Totally more than 75 million DEM have been invested into the extension and
renewal of the biotechnological plant for the production of feeding additives for animals
nutrition. Fermas has successfully established itself on the world feed market. As for the
L-Threonine, Fermas is one of the three major producers in the world manufacturing this
product. The products are being sold in Germany, Switzerland, Italy, France, Denmark,
Belgium, Holland, Brazil, Australia, Canada etc. In 1998 Fermas received the awards
"Exporter of the year" from the Slovak Economy Minister and "Company of the
year" from the weekly magazine Trend.
Volkswagen (Wolfsburg, Germany) opens the second factory in Slovakia creating 450 new jobs.
In the city of Martin a new factory producing components for automotive industry should be launched by the end of the year 2000. 19.4 million Euro will be invested. Volkswagen already has a factory in Bratislava producing VW Golf, Polo, and Bora.
Volkswagen, the country's largest non-financial company (with 7,000 employees), tripled turnover between 1997 and 1999, and last year accounted for 16% of Slovakia's total exports. VW Slovakia produced over 126 thousand cars in 1999 and plans 178 thousand in 2000.
A new industrial park will be built near Malacky. The production of a new vehicle Colorado (developed in joint-venture with Porsche) for the European and American markets is planned. The industrial park should also accomodate 7 to 12 largest suppliers of Volkswagen (directly employing 1,200 to 1,500 people). The annual capacity of the new plant should be 100,000 Colorado SUVs. Another 40,000 should be produced in Leipzig under the brand Porsche from bodyworks supplied by Volkswagen Slovakia.
Continental Matador, s.r.o. is a joint-venuture of Hannover based Continental AG (76 %) and Slovak Matador a.s. (24 %) producing truck tires, founded in September 1998. The plant is currently under complete modernization with investment of 190 million DEM, co-financed by the German bank KfW. The annual production capacity of around 300,000 tires is to be increased fivefold by the second half of 2001. In 2003 it should produce 2 million tires, revenues reaching 350 millin DEM. Continental Matador will employ 800 people.
The growth of Germanys Siemens AG in Slovakia has been phenomenal. Siemens has been buying out struggling companies all across Slovakia and keeping them going while it moves in its own technology. The result is that Siemens Group now employs some 7,000 making a wide range of products from motors for washing machines, to wire cable harnesses. Siemens s.r.o. (with 280 employees) is a subsidiary of Siemens AG Österreich marketing whole range of Siemens products in Slovakia.
Another companies of Siemens
Group are Siemens Automotive s.r.o., Michalovce (over 1,100 employees), BSH
Drives and Pumps s.r.o., Michalovce (over 1,000), VW Elektrické systémy
s.r.o., Nitra (2,200), Osram Slovakia a.s., Nové Zámky
(1,100), SWH Siemens Business Services s.r.o.,
Bratislava (270 employees), Siemens Building Technologies Slovensko s.r.o.,
Siemens Building Technologies Slovensko s.r.o.
The company BSH Drives and Pumps s.r.o., Michalovce, is a member of
Bosch and Siemens Home Appliances Group, which is focused on production of power supplies
for household appliances. BSH Michalovce was established on 1 January 1999, when it was
segregated from Siemens Automotive. It is still operating within Siemens's premises. Last
year it generated consolidated revenues of over Sk3.5 bn (81.02 mn EUR) and pre-tax profit
of Sk105 mn (2.43 mn EUR). According to the head of the production, Marian Hornak, the
current yearly production represents 5.5 million units, which are 20,000-25,000 engines
and pumps each day. More than 60 percent of the production gets sold amongst BSH daughter
companies in Germany, Poland, Spain and China, which manufacture completed products. The
most important from the outside purchasers is the American concern GEA, which imports from
Michalovce 1.5 million of products each year.
Siemens Automotive s.r.o., Michalovce, plans on a gradual production increase. By the end 2002 it expects to be employing some 3,000 people. The company produces cables for automotive industry. In an interview for TREND the company deputy, Dieter Hartwich, said that the major company partner is Ford, namely at its plants in Dagenham, England and Köln, Germany, as well as the Dutch-Japanese company, NedCar, producing the Mitsubishi Spacestar. As many as 67 percent of the production of the plant in Michalovce, representing cables for 1,400 cars per day is used in the Ford Fiesta models. The planned production increase, too, according to Hartwich, is connected with Ford. A little more than 20 percent of the production, representing cables for 200 cars per day, goes to NedCar.
SAS Automotive, s.r.o., a 100% subsidiary of SAS Autosystemtechnik GmbH, that
is a joint-venture of Siemens Automotive and Sommer Allibert
Industrie AG, has started its production. The plant will produce vehicle cockpit
modules for Volkswagen Slovakia. The company will invest 250 million SKK and create
200 new jobs. The full production capacity should be reached in the middle of the year
with annual revenue of 1000 million SKK this year and 7000 million SKK in the following
years. The plant is located only 300 meters from the Bratislava Volkwagen plant.
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