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Olomouc is an excellent choice for real estate investors and following is a profile of the city. Those of you who have read my newsletter before know my dispassionate style of presenting things so here are the facts on Olomouc as they may affect investors…

Area: 103.36 km2
Population (latest data December 31, 2003): 101,268

Distance from important European and Czech cities:

City kms Brno 76 Ostrava 100 Prague 277 Vienna 198 Bratislava 197 Warsaw 474 Budapest 389 Berlin 500 Paris 1 302

Average monthly salary for Olomouc region (2003): 15 491 CZK
Average monthly salary for Czech Republic (2003): 17 445 CZK
Average monthly salary for Czech Republic (2005 2nd Q): 18 763 CZK

Education: 16% of residents in Olomouc have University level education

Average temperature in January: - 2°C to -4°C
Average temperature in July: 15°C to 19°C


Foreign Investors in Olomouc
(by no means comprehensive, only a sampling)

Investor (Country) Business Activity Year Employees (2004) Nestle Cesko, s.r.o. (Switzerland) Production of chocolate and chocolate candies 1992 800 Foundeik, s.r.o. (Spain) Foundry 2000 215 M.L.S. Holice, spol. s.r.o. Group Leroy (France) Production of alternators; sale, maintenance and repairs of rotating electric motors 1922 770 Mora Aerospace, a.s. (USA) Development, designing, production, testing, maintenance, repairs, modifications and construction changes of the aviation technique 1999 640 Mora Moravia a.s. (Slovakia, Hungary) Manufacture and sale of cooking technology appliances 1996 640 Senior Automotive Czech, s.r.o. (UK) Production of shaped aluminum and steel pipes for the automotive industry 2001 260 SIWE, a.s. (Austria) Production of forming, cutting and bending tools 1992 143 TIMKEN Ceska Republika, s.r.o. (USA) Production of needle and roller bearings for automotive and engineering industry 2001 523 Skanska DS, a.s. (Sweden) Construction of motorways, city roads, parking areas; construction and reconstruction of bridges, sewage systems 1954 185 Exerion Precision Technology Olomouc, s.r.o. (Netherlands) Metalworking and assembly of metal-frame structures and functional modules 1998 110

Other Investment News

Schneider Logistics, a leading global logistics company, opened new shared services centre in Olomouc. Thanks to this million euro investment more than 300 new highly qualified jobs will be created here. “We chose Olomouc mainly for its sufficient supply of qualified people. The new centre will serve customers of Schneider Logistics from all over Europe, which is why our demands, for example on employees’ language skills, are high,” commented Willem Jan van Vorstenbos, Managing Director of Schneider Logistics in Europe, and added: “Of course we intend to offer employees the most varied training relating to languages, accounting and working with our special software applications developed for processing invoices.”

Kappa Packaging opened a new plant for the production of packaging from backed corrugated board in the industrial zone Olomouc – Holice today. The new plant into which Kappa invested over 11 million euro will create more than 50 new jobs. “The main factors behind the decision-making on the establishment of the new plant were the following: location in the heart of central Europe, know-how and skills of the original employees of the local plant Kappa Empack and – last but not lest – support of governmental organizations and representatives of local government,“ says Zden?k Suchitra, director of the Kappa Packaging plant in Olomouc.

The multinational company Head has decided to start the manufacture of skiing shoes in Litovel, Olomouc region. Head has acquired a factory in Litovel by reason of quick production start. Head plans to invest 2 million euros and create 120 jobs in the first phase. Gerald Skrobanek, CEO Head Sport s.r.o. explained the reasons for this decision: “The advantage of the Czech Republic is mainly better logistics, but also higher labor productivity. Litovel offers an advantageous location and mainly experienced workers for our production technology. Mainly thanks to the very successful operations in the Czech Republic, the top management at Head decided not to move to the cheaper labor markets further to the East of Europe, but utilize the better infrastructure and eruditeness in the Czech Republic.”

British owned Westcombe International Research s.r.o. will build a call center costing more than 1 million dollars and employ around 30 people. The Olomouc center is set to start operation on 1 February 2006. The company specializes in offering international marketing research for firms such as Accenture, Hewlett Packard, IBM and Microsoft. “It’s possible to locate this type of investment practically anywhere. However, we chose Olomouc because it is home to Palacky University and there are plenty of students who speak English and many other languages who we can employ effectively in the call center,“ adds Westcombe CEO Justine Kemp.

Olomouc Property Figures

Apartment Rentals in CZK per month (2004 3rd Q):
(average range - exceptions can be found either way)