Kerpen, Germany-Visteon Corp. announced 15 Oct that it will invest Euros 40 million ($ 49 million) in a new manufacturing facility in Nitra, Slovakia, making automotive interiors. The plant will “support new business with Kia and PSA Peugeot Citroën,” said a statement from the major automotive supplier. Visteon’s Nitra site will “support these vehicle makers in their strategy to assemble future vehicles in Slovakia. Start-up is scheduled for spring 2006, and the plant will employ some 400 workers at full production. Karl Krause, Visteon’s vice president of manufacturing, Europe and South America explained that, “Recent new business wins gave us the opportunity to review our European manufacturing base and evaluate how to best serve future business with car makers located in Central Eastern Europe.” Slovakia also has a stable business environment, while Nitra is close to Visteon’ customer’s plants, Krause added. Also, “the cooperation of the Slovakian government contributed to our decision to invest in Nitra,” he said. Nitra is about 50 miles northeast of the Slovakian capital Bratislava. The country became a member state of the European Union in May.”
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