The Glaverbel group“s Splintex division will invest Kcs 1 billion in the modernization and expansion of its north Bohemian plant which produces car windows, according to Splintex CEO Pavel Slambora. …
The Glaverbel group“s Splintex division will invest Kcs 1 billion in the modernization and expansion of its north Bohemian plant which produces car windows, according to Splintex CEO Pavel Slambora. The investment and enlargement will create approximately 200-300 new jobs over the next two and a half years, Slambora added. As part of its plan, the firm will submit material on the investment to the Czech government, asking for incentives worth up to 50% of its investment. Investment incentives play a large role in the decision of foreign firms to invest in the CR, Slambora said. It was attractive investment incentives, according to Slambora, which convinced Splintex“s Belgian parent company Glaverbel to originally set up its plant in Chudernice, after looking at locations in both France and Italy. In addition to its current production of heated rear windshields, Splintex will invest in the production of side windows and also enlarge its production of windscreens. Splintex projects sales of Kcs 3.1 billion this year, compared to Kcs 2.8 billion in 1999 and Kcs 2.3 billion in 1998. Exports are expected to grow to 70% of total sales this year. Splintex currently employs 695 people.