German car parts manufacturer Brose plans to invest 180 million euros in the construction of a factory in Pancevo, in northern Serbia, the Serbian government has said.
The company is also planning to launch a research and development (R&D) centre in Serbia, the government said in a statement on Tuesday.
“The company will open a factory for electric motors for controllers with 1,100 employees and 460 of them will be highly-qualified engineers,” Serbian President Aleksandar Vucic said in a video file posted on the Tanjug news agency website.
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Otherwise, Brose d.o.o. is part of the family company Brose Fahrzeugteile GmbH & Co. Headquartered in Coburg, Germany.
The average net pay at the factory will be about 1,700 euros, Vucic said following the signing of an agreement on the project by representatives of Brose and the Serbian economy ministries.
Brose is active in the production of electronic motors, as well as door and seat systems. The company has 26,000 employees working in 63 locations in 23 countries, according to data from the corporate website.
Also, a Memorandum of Understanding for Strategic Partnership in Dual Education was signed between MTU Maintenance Serbia d.o.o. and the Ministry of Education, Science and Technology Development. The MOU was signed on behalf of the ministry by Assistant Minister Gabrijela Grujić. The value of this investment is EUR 109 million.
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