Business News

Slovenian Firm to Produce Coils for Ford

Bovec, 03 August (STA) - A subsidiary of Slovenian car parts maker Iskra Avtoelektrika has launched production of ignition coils for US car maker Ford, creating 20 new jobs in the process, the company said in a press release.

Iskra Bovec was selected for the job by German industrial conglomerate Robert Bosch, business daily Finance reported Tuesday.

The first stage involves producing a million euros-worth of coils a month for Ford, but the number will be halved once coils are also produced at Ford's plant in Brazil.

The partnership with Robert Bosch also involves producing EUR 13m-worth of coils for German car maker Audi a year, with production slated to begin in April 2011.

If that deal goes through, another 35 workers will be hired, the company's boss Mitja Gorenscek told the business daily.

Gorenscek said this was a milestone for the firm, which had previously supplied mostly spare parts but is now producing OEM parts.

The company shared the investment costs with Robert Bosch, financing its part, roughly EUR 200,000, with loans after its request for state aid was turned down.

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