News in brief, Spring 2018

News in brief, Spring 2018

European Commission: no more economic imbalances

In early March the European Commission released its Winter Package, which states that Slovenia no longer faces any economic imbalances. Last November, the European Commission launched in-depth reviews for 12 of its Member States in order to analyze whether they were experiencing macroeconomic imbalances and assess their gravity if they occur. The Commission has now concluded that eleven states are still facing imbalances, the most severe cases being Cyprus, Croatia and Italy. Slovenia was the only state declared to be without imbalance. Slovenia's EU Commissioner Violeta Bulc commented on the news: "a strong message to the market, to domestic and foreign investors, that Slovenia is a stable country and a good partner for future investment". 


Hidria Corporation and Orchid International: alliance for electro mobility

Slovenian tech firm Hidria has formed a Global Alliance with US Orchid International last fall. They aim to produce electric motor components for the automotive industry. Orchid International from Monroe, Wisconsin, is North American market leader in producing electrical steel laminations, electric motor and generator cores and transformer devices for various applications. Hidria also produces parts crucial for electric motors, such as stators and rotors. Its advanced solutions are widely used in the industry by brands like Audi, Citroen, Mercedes, Chrysler or Renault. The new alliance should strengthen Hidria's position in the North American market and allow wider global expansion for Orchid International. 


Austrian Herz expands its plant in Šmartno

Austrian corporation Herz Energietechnik has started construction on a new plant near its existing facilities in Šmartno pri Litiji, some 40 kilometers from Ljubljana. The new factory will employ 100 people and produce sanitary fittings and ball valves. Herz in Šmartno currently employs around 270 people and makes around 25 million euros of sales turnover. With the new facilities the company aims to double its sales. The company is investing 4 million euros into the expansion.

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