Hankook Still Talking in Slovakia

(Akron/Tire Review) News reports indicate that Slovakia is still negotiating with South Korean manufacturer Hankook Tire Co for a 500 million euro plant near Levice. Acting Slovakia Economy Ministry spokesman Peter Papanek told newswire TASR that negotiations were on-going. “The Hankook investment is still very important for Slovakia. The Slovak Investment and Trade Development Agency (SARIO) is still holding talks on this investment,” Papanek said in published reports.

The country is now offering an incentive package that is 70 per cent lower than its original offering of some 110 million euros. Slovakia’s cabinet rejected an investment plan with Hankook in early July. That plan allowed for state investment for infrastructure improvements worth 21 per cent of Hankook’s planned investment. Hankook said that it would not accept the lowering of investment stimuli from 21 per cent to 19 per cent, and restarted talks with other Eastern European nations.