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ICU Medical to invest in Slovakia
A US company is planning to invest in Slovakia and create more than 700 jobs.
The Slovak Investment and Trade Agency (SARIO) announced that ICU Medical (ICUM) is to invest in the country between 2009 and 2011.
ICUM will spend €1.4 billion (£1.2 billion) on developing a new factory to produce intravenous application products and should see the creation of over 700 positions by 2014.
SARIO and the Ministry of Economy are both backing the project.
Juraj Kiesel, chief executive officer at SARIO, said: "It is very significant investment especially nowadays, when inflow of FDI due to the global economic crises is stagnating. We believe that after this investment other projects we work on will follow the example of ICU."
Manufacturing at the factory in Horny Ohaj and Vrable, Nitra district, will include injection moulding and automated assembly of plastic parts and other components as well as packaging and sterilisation.
SARIO was created to help Slovakia be more competitive in business within Europe.
