Getrag Ford Transmissions, a joint venture between Ford and Germany’s Getrag Group, announced on Thursday a decision to build a €300 million ($US399 million) auto parts plant in eastern Slovakia, the Associated Press (AP) reported.

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The company reportedly said it plans to build a production facility for new-technology transmissions. Production is tentatively set to start in early 2007 and the new plant should employ about 750 people.


According to a statement cited by AP, Slovakia’s Ministry of Economy and Getrag Ford Transmissions signed a memorandum of understanding in which the company expressed its intention to establish a new production facility in Slovakia.


“Slovakia is an excellent potential location for our planned investments,” Tobias Hagenmeyer, CEO at Getrag Ford Transmissions said in the statement, according to AP. “We very much hope that we will be able to develop our plans successfully with the Slovakian government and reach a final agreement shortly.”

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