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Daily News

Candy to Make Refrigerators in Czech Factory
Oct 7, 2002
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Candy SpA, an Italian household-appliance maker, began making refrigerators at a new Czech factory with the capacity to produce 800,000 appliances a year, the Czech investment-promotion
agency said.

Candy started building the plant 2 years ago in Podborany, in
the north of the Czech Republic, pledging total investment of more than 1.5 billion koruna (U.S. $49 million). The site employs 200 people and is expected to have 600 staff when at full capacity, the CzechInvest agency said in a statement.

"A local production plant is a strong positive signal for the
Czech market and for the region" in terms of brand recognition,
said Viktor Fiala, general manager of Candy's Czech unit, in the
statement.

The Czech government provided Candy with investment incentives,
including 10-year tax breaks, state contributions for newly created jobs, and a subsidy for training employees. Podborany is in the Louny district, which had a 17.8 percent jobless rate in August, the third-highest in the country. (Bloomberg News)

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