Government: Lichtgitter FRP Slovakia to Receive €1.229 million in Investment Aid

Michalovce, February 28 (TASR) - A company called Lichtgitter FRP Slovakia will receive state investment aid amounting to €1.229 million in the form of tax relief for setting up a new operations unit in Michalovce (Kosice region), according to a proposal to provide investment aid to the aforementioned company approved by the government on Wednesday. The company plans to launch the production of fibreglass reinforced plastic (FRP) gratings in eastern Slovakia. The investment costs should exceed €6.3 million, and the firm should create 54 new jobs by the end of 2027. The firm decided to set up a new operations unit mainly due to long delivery times when supplying FRP gratings from China. The expected annual output of the new operations unit is 2,500 tonnes of FRP gratings, with all of it intended for export - 70 percent to the EU market and 30 percent to the markets of third countries. The only partner of Lichtgitter FRP Slovakia is a German company called Lichtgitter GFK Verwaltungs. This company forms part of the Lichtgitter Group founded in 1929. The group is one of the biggest producers of plastic and metal gratings in the world. The Lichtgitter Group includes 27 facilities based in Europe, Asia and the USA. It is currently represented in 17 countries and employs some 1,500 employees worldwide. ko/df