Grand Opening of the New Hoval Plant in Istebné — A Successful Investment Supported by SARIO

On Tuesday, August 26, 2025, the town of Istebné hosted the grand opening of Hoval’s new manufacturing plant dedicated to the production of heat pumps – a key technology driving the green transition and a sustainable future.

With an investment of approximately EUR 60 million, the new facility brings to the Orava region a state-of-the-art production site equipped with green technologies, including photovoltaics, energy recovery, and a green roof. The company aims to produce up to 32,000 heat pumps annually at this location.

The project represents a significant contribution to the Orava region, creating at least 457 new jobs in production and 7 positions in the technology center, with employment expected to rise to around 600 by 2030. In addition to generating employment opportunities, the investment also brings higher added value in the form of research and development activities.

The importance of this investment was emphasized in a speech by the Prime Minister of the Slovak Republic, who, together with the Deputy Prime Minister and Minister of Economy, the Minister of Foreign and European Affairs, and other distinguished guests, attended the ribbon-cutting ceremony.

SARIO’S ROLE IN THE PROJECT

As highlighted in the remarks of Hoval’s plant director in Istebné, SARIO played an integral role in the project from its very inception. Since 2020, SARIO consultants have been providing the investor with comprehensive support – from advisory services on investment incentives and technical assistance during the plant’s design, through promotion of Slovakia to Hoval’s international management, to active post-investment aftercare.

At a decisive moment, when Hoval was considering alternative locations in Austria and Germany, it was SARIO that prepared detailed and highly valued documentation, helping to convince the company’s leadership to place its strategic expansion in Slovakia. Key factors included the availability of a skilled workforce, suitable land, streamlined permitting processes, and access to investment incentives.

Thanks to SARIO’s support, the new plant also actively collaborates with the Žilina Self-Governing Region and Žilina University, opening opportunities for stronger connections between business, academia, and the local community.

Long-Term Presence and Outlook

The Liechtenstein-based company Hoval has been present in Slovakia since 2004, when it started with just 26 employees. Today, the company employs around 340 people, and with the new plant, this number is expected to grow to over 600 by 2030.