BRATISLAVA (Reuters) - Taiwan's AU Optronics (AUO) opened on Tuesday its second European base for production of LCD displays in Slovakia, helping recovery in the heavily export-reliant economy.
The plant located in the western town Trencin should play a key role in the manufacturing, assembly and selling of large-sized LCD modules for TV makers nearby, the company said.
"With the establishment of AUO Slovakia, we are building an even more complete network with our clients to effectively deliver quality LCD products worldwide," Paul S.L.Peng, the president of AUO's Display Business Operation, said.
The central European economy is driven mainly by the car and electronic industry, which is led by Samsung Electronics, Slovakia's number one exporter, and Taiwan's Foxconn Technology.
The country's finance ministry raised this month its 2011 gross domestic product (GDP) growth forecast to 3.6 percent from 3.4 percent on the back of higher foreign demand.[nPRA005663]
The capacity of the AUO plant should reach 240,000 pieces per month by the end of 2011 and plant is expected to bring 3,000 new jobs by 2012. The country's government's investment agency (SARIO) said last week it had 102 investment projects in the pipeline worth around 4 billion euros ($5.7 billion) focused mainly on the automotive and electronic sectors.
(Reporting by Petra Kovacova, Editing by )