SARIO's assistance in the BDR Thermea investment in Vranov nad Topľou

Slovakia continues to confirm its high attractiveness for companies producing modern and sustainable heating technology, heat pumps, and other related components.

In this prospective sector in which engineering companies such as Vaillant, Hoval, and Stiebel Eltron have been operating and expanding for a long time, Slovakia has been discovered by other Western European players this year. Moreover, the assistance of the Slovak Investment and Trade Development Agency (SARIO) directed these investment projects to the so-called least developed districts.

After the April announcement of the German family company Winkelmann investment in the state industrial park in Rimavská Sobota, it was also possible to acquire for Slovakia the new Dutch manufacturer of heat pumps BDR Thermea, which is one of the major European players in the sector of heat pumps of the Baxi, De Dietrich, Remeha, Brötje, Chappée or Baymak brands. The BDR Thermea Group has a turnover of EUR 2.5 billion, 13 production plants in Europe, Turkey, and China, and employs more than 7,000 people globally.

The SARIO agency was directly approached by the BDR Thermea in May 2022, when the investor declared initial interest in opening a new production plant in the region of Central and Eastern Europe, due to the growth of demand in this segment. During the summer and fall of 2022, consultants from the Department of Investment Projects and the Department of Regional Offices of SARIO prepared several documents and responses to RFIs (requests for information), about our investment environment, labour availability, energy prices, support mechanisms, and suitable and available real estate.

Slovakia became the investor's first choice in December 2022, considering 4 locations across the country. Between December 2022 and August 2023, representatives of the investor, accompanied by SARIO consultants, made up to 5 visits to Slovakia, during which they visited various locations that were under consideration and met with relevant partners from the Ministry of Economy of the SR (MH SR), the Prešov Self-governing Region and the City of Vranov nad Topľou. Meetings with several members of the Association for the Development of Investments ISA, two reference meetings with established companies in the region of eastern Slovakia, as well as negotiations with representatives of the Office of the Plenipotentiary of the Government of the Slovak Republic for Roma communities also added value in the final decision.

In the mentioned period, the SARIO agency also provided the investor with assistance and information regarding logistical connections, identification of suitable local suppliers of various inputs to production, or repeated consultations on the regional investment aid scheme. 

In June 2023, the company established a new entity BDR Thermea Kosice s.r.o., and officially submitted an application for investment aid to the Ministry of the Interior of the Slovak Republic.

The start of production in Vranov nad Topľou is planned for Q4 2024, and the investor plans to gradually create approximately 750 new jobs here.

'During the whole process, we were supported in an excellent and constructive way by SARIO who provided good and accurate information on all questions we had. Because of that, we were able to make a good and data-driven decision within 6 months’ time for Slovakia as the preferred country to invest. Also, the final choice to start the factory in the Eastern part of Slovakia (Vranov nad Toplou) was based on information from SARIO. SARIO introduced us to the relevant stakeholders in the area who all were very supportive. This gives us a good comfort level that the opening of the factory will be done according to planning in Q4 2024.'

— Caspar de Jong, Project Lead, BDR Therma