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On May 13, 1997 Matsushita Electronic Components (Slovakia) s.r.o. has been established as a wholly owned production subsidiary of Matsushita Electronic Components (Europe) GmbH. The company, which mainly manufactures tuners (for televisions and video recorders) and remote control units, should help meet the growing demand for electronic components throughout Europe, including Panasonic factories in Eastern Europe. One plant is in Trstena, another one in Stara Lubovna.
Matsushita Electronic Components Slovakia's products are also sold to nearby Sony television factory. Sony s.r.o is the new flagship of Slovakia's electronics industry. It was the first of the global electronics giants to invest here, in 1996. And remarkably, it chose Slovakia above its neighbours for its first move into the region. Faith has been rewarded, claims Sony's Slovak boss, Mitsuyoshi Yamada. In last year's internal competition for production quality, the Slovak plant in Trnava came first with zero defects.
And revenues have risen fast, from 1.7 billion SKK (39 million USD) in 1998 to nearly 3
billion SKK in 1999. Sony Slovakia plans to double its production in 2001 and triple it in
2003. Sony has already invested 800 million SKK (17 million USD) in its production unit in
Trnava. This year the company plans investments exceeding one billion SKK. The factory in
Trencin has 900 employees, 20 are in the trade company in Bratislava.
In October 2000 Matsushita Audio-Video Slovakia, s.r.o. (MAV Slovakia) was founded in Krompachy. It is a 100% subsidiary of Matsushita Audio-video Deutschland GmbH, producing audio and video devices under the Panasonic brand. In March 2001 the production of VCRs started in the new plant, employing 350-400 people. Later totally about 1,000 jobs will be created to assemble also audio and DVD players. The expected revenue in 2001 is about 4.3 billion SKK and should grow to 7.7 billion SKK until 2003. Currently the entire production of MAV is exported and in the future a portion might be placed on the Slovak market. After 2003, MAV wants to widen its product range assembled in Krompachy. So-far investments amount to 3.5 million EUR and should reach 23 million EUR within three years. The cabinet will support the Japanese investor by 10 million SKK allocated from subsidies for industrial parks. Currently MAV is using existing production halls of a bankrupted company for its operation. During next three years it plans to build its own production facilities. In Krompachy, the company found suitable objects, infrastructure, and well-trained personnel in favorable relation to labor costs. The fact that the town has a secondary electrotechnical school and the proximity of the Technical University in Kosice played also a cetrain role in choosing Krompachy.
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