May 14, 2018 / 3:51 PM / 7 months ago

Japan's Yaskawa to increase its investment in Slovenia

LJUBLJANA, May 14 (Reuters) - Japanese electrical equipment producer Yaskawa, which is building an industrial robot factory in Slovenia, has decided to build another factory in the country to produce electrical components, the company said on Monday.

The new factory will make inverter drives, servo drives and servo motors, Yaskawa said.

“Expanding our production capacity will enable us to further improve the supply chain, shorten our lead times and enhance the service for our European customers,” Manfred Stern, head of Yaskawa Europe, said in a statement.

Yaskawa did not reveal the value of the new investment but according to local media it will be worth some 25 million euros ($30 million) and will create up to 250 new jobs.

The Japanese company already makes industrial robot parts in Slovenia.

The new factory, which will start operating within two years, will be located close to Yaskawa’s robot factory in Kocevje, in southern Slovenia, which is under construction and will start production at the end of this year.

In recent years, Slovenia, which became a European Union member in 2004, has attracted several large investors which are building factories in the country, including Canadian car parts maker Magna International and Japan’s Sumitomo Rubber Industries.

The Bank of Slovenia said in a report on Monday that foreign direct investment in Slovenia increased by 428 million euros between April 2017 and March this year.

$1 = 0.8358 euros Reporting by Marja Novak; Editing by Adrian Croft

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