October 21 (SeeNews) - Japan's Yaskawa Electric Corporation has decided to build a 21 million euro ($22.9 million) factory for the production of industrial robotics in Slovenia, according to a Slovenian government statement.
The new factory will employ at least 170 people, the government of Slovenia said on Thursday, following a meeting between prime minister Miro Cerar and company representatives on the sidelines of a European Union summit of heads of government in Brussels.
"The new investment represents potential for further development and job creation, and allows us to show the world that Slovenia has a favourable environment for foreign investments", Cerar said, according to the statement.
Yaskawa Electric chose Slovenia over Slovakia, the Czech Republic and Poland, which were also being considered as possible locations for the new plant.
Yaskawa Electric, founded in 1915, is one of the world’s leading manufacturers in the fields of drive technology, industrial automation and robotics based in Kitakyushu, Japan.
The company already has two subsidiaries in Slovenia, Yaskawa Slovenia and Yaskawa Ristro.
Another Japanese company, consumer electronics producer Panasonic, is also looking to increase its investment in Slovenia. Last month Panasonic completed a due diligence process on Gorenje and is expected to soon reveal whether it will increase its current 10.74% stake in the company.
($=0.917966 euro)