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Manufacture of new VW in Slovakia 'is a good sign'
The decision of Volkswagen to manufacture its new model in Slovakia is a good sign for the country as the global economic crisis continues.
Prime minister Robert Fico made the comments during a ceremony at the Volkswagen factory in Bratislava to mark the move.
The car company originally announced during April that it will produce its New Small Family car at its plant in Slovakia.
Martin Winterkorn, chairman of the management board of Volkswagen Aktiengesellschaft, said at the time: "Our team at Volkswagen in Slovakia is ideally prepared to provide the flexibility required for the production of the New Small Family. Four brands are already produced successfully under one roof at our plant in Bratislava today."
The investment is worth €308 million (£265 million) and is expected to increase the plant''s production capacity to 400,000 vehicles per year.
Additionally, 1,500 new jobs are to be created by the decision.
Volkswagen Slovakia achieved a profit of €283.5 million in 2008, which represented an increase of 25.9 percent year-on-year.
