China’s MINTH to open EUR 100mln automotive factory in Loznica

Serbian Economy Minister, Goran Knezevic signed an agreement today with the Chinese company Minth Automotive Europe, which stipulates the construction of a factory in Loznica that will employ around 1,000 people.

Minth plans to invest EUR 100 million in the facility, where it will produce aluminium roof base carriers, vehicle covers, aluminium door frames and car batteries.

The company’s representatives also met with the Serbian President, Aleksandar Vucic to discuss the investment.

As the Ministry of Economy says, the investment will be realized in several stages.

Apart from the Economy Minister, the director of Cheerplan HK Limited, Chin Yong Huon, the director of Minth Automotive, Ching Li Wong, and the mayor of Loznica, Vidoje Petrovic co-signed the agreement.

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Minth Automotive Europe, as well as Cheerplan, is a member of the Chinese Minth Group, one of the leading global suppliers when it comes to the design, production and sale of structural components, covers and decorative parts for passenger vehicles.

The Chinese company has also revealed plans of building a hotel, as well as sending 300 children from Loznica to China every year for further education.

Minth produces and sells structural and decorative car parts. The market value of the company’s shares is calculated at 38.6 billion Hong Kong dollars, which is 4.28 billion euro.

Minth Group already has over 30 production plants in China, Thailand and Mexico. It exports to Australia, Europe, North America, Japan and Southeast Asia.

The company supplies the leading car manufacturers which make up more than 80% of the global automotive market.

(Beta, N1, 04.10.2018)


This post is also available in: Italiano

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