The German company Kromberg & Schubert opened in Krusevac a production facility that will manufacture automotive cables, a 29-mln-euro investment.
Once the facility reaches its full capacity, which is expected to happen in 2022, it will employ a total of 2,500 people.
Serbian government gave the German company incentives in the amount of amount of 9.5 million euros to open the factory, plus the City of Krusevac provided 6.2 hectares of land and the required infrastructure.
Kromberg & Schubert currently employs 600 workers in its facility that spans 23,000 square metres, and plans to hire another 200 workers by the year end.
The facility in Krusevac is the first development project of the company in Serbia and is a turning point in its further strategic development. If the investment proves to be efficient and cost-effective, Kromberg & Schubert plans to increase the investment, whereby the number of employees would grow to 4,000.
The opening of the plant in Krusevac was attended by Serbian President, Aleksandar Vucic, the owner of the company, Hans-Otto Kromberg, German Ambassador to Serbia, Axel Dittmann and Mayor of Krusevac, Jasmina Palurovic.
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Vucic said that Kromberg & Schubert would reach a decision on a new investment in 20 days and that he hoped that Serbia will be chosen again, with four Serbian towns in competition.
Kromberg & Schubert is a family company which produces car components and is a leading global supplier of wire systems, cables and injection technology products. It employs more than 48,000 people in over 45 locations in the world. The group’s total revenues in 2017 amounted to 1.6 billion euros.
Photo credits: Tanjug / Dimitrije Goll
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