US company Modine opens a factory in Sremska Mitrovica

Serbian PM Ana Brnabic on Monday opened a new Modine Manufacturing Company plant in Sremska Mitrovica, northwestern Serbia.

She thanked the US thermal management company for investing in the city, especially for hiring young people of an average age of 32.

The company has invested 1 million euro in a new 3,500-square-metre heat exchanger production plant; 45 people will be employed in the first phase and 150 in the following period.

She announced several tax exemptions for youth employment from January 1.

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“That is exactly the focus of the Serbian government – youth employment. I hope the bill amending tax laws will be passed to encourage the employment of young people,” she said.

She urged US companies to invest in Serbian research centres as Serbia is the leader in the field.

“US companies have invested over 4 billion dollars in Serbia, hiring over 20,000 people,” she said.

The Modine Manufacturing Company has a 12,000-strong workforce on five continents.

The Sremska Mitrovica investment is worth over 1 million euros and the plant will initially employ 45 people, with a total of 270 workers to be hired in the period to come.

 (RTS, 07.10.2019)





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