Home / News / Pegas Nonwovens’ new plant eligible for tax breaks

Pegas Nonwovens' new plant eligible for tax breaks

20 Oct '16

1 min read

Czech Republic headquartered nonwovens producer Pegas Nonwovens SA said it has been considered eligible to receive investment incentives by the Czech Republic Ministry of Industry and Trade. The incentives will be available to its new nonwovens production plant set up by its subsidiary Pegas NW in Znojmo-Prímetice with a capacity of 10,000 tons.

Pegas has installed a new S-TwinMB-S 2600 FR4s Compact BiCo production line at the Znojmo-Prímetice location.

The incentives will be 25 per cent of the total value of qualified expenses for a maximum amount of CZK 148.05 million, which the company will avail through an income tax relief for ten consecutive taxation periods.

"The option to utilise investment incentives in the Czech Republic represented one of the important aspects in our decision-making process to set up the new line,” František Rezác CEO of Pegas Nonwovens said. “We are therefore glad that we have now managed to obtain this commitment." (AR)

Fibre2Fashion News Desk – India

More PFNonwovens s.r.o. News...