Bratislava

On Friday, we traveled to Bratislava in Slovakia to visit the American Chamber of Commerce and International Auto Components (IAC), an auto components manufacturer. Bratislava was quite different from Vienna - not the same serenity and charm. This small city should not be discounted, though. The city square was quite impressive, and its history is rich, as well, having been a Fascist nation.

First, we visited the American Chamber of Commerce in the Slovak Republic. In January, 1993, Slovakia and the Czech Republic split, so Slovakia needed their own American Chamber of Commerce. AmCham currently has 320 members (1/3 American, 1/3 Slovak, 1/3 other origin), and 20% of Slovakia's GDP is represented by these members. The majority of member companies are in the manfacturing industry, followed by IT and Consulting/Accounting. Their three pillars of focus are on contacts, information, and advocacy. They sponsor over 100 events each year and produce several publications.

Slovakia has a strong economy, according to AmCham. The country is situated in the heart of Europe, thus giving it easy access to multiple markets. They are the world's largest producer of autos/auto components (per capita) in the world. There is low inflation - 6% in 1998 compared to 4% in 2006. The country is a magnet for foreign direct investment, mostly due to its location, strong economy, and labor advantages. Additionally, they are a member of NATO and will convert their currency to the Euro in January, 2009. In 2003, they were recognized as the Top Refomer in the World. The Slovakian government is business-centric and have passed various tax code, pension, and labor reforms, as well as investment incentives to encourage better working conditions and greater investment in their economy.

Next, we toured IAC in the small town of Lozorno and met with their General Manager. IAC began in 2006 when several smaller companies were purchased by W.L. Rose. In 2007, they had made over $5.5bn in revenue. They have 75 facilities in 16 countries throughout Europe, Japan, China, and South and North America, and are looking to expand to Russia and India. There's even a facility in Albemarle, NC!

Their strategy is to be customer-oriented and technologically driven, deliver high quality auto parts on time, provide exceptional shareholder value, and build an atmosphere of trust and communication. Their product portfolio includes interior and exterior trim and carpets and acoustics for various autos, focusing primarily on Porsche and VW. IAC produces over 2500 various parts, and their total inventory turnover is 9 days. They consider themselves the "Detroit of Europe".

Photos

General Manager Randy Dreer showing off some interior door panels.

Me, Will, and Joe visiting with an unusual character.

A cheery Bern.

Scene from the road.

City Square.

One of many cathedrals.