Tatravagónka keeps growing rapidly
Slovak plants of Tatravagónka (Alexej Beljajev and Budamar) posted 6% increase in sales to €595.5m last year and expect over 20% growth this year. The company benefits from its strong market position, its own product development and growing demand for rail transport. It exports almost all output. The Tlmače plant will increase output from last year's €80m to €100m this year. It is investing tens of millions in a plant in Subotica, Serbia, as labor costs are 50% higher in Slovakia. Last year it closed one of its two German factories, Waggonbau Niessky, because of high labor costs. It is investing €12m in an automated paint shop at its Poprad plant. In Slovakia, it pays an average wage of €1,700-1,800.
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