February 2 (SeeNews) - Serbia's government said on Thursday Knott Autoflex Yug, a unit of German brake systems manufacturer Knott, has opened a car trailer parts factory in its production complex in Becej, in northern Serbia.
The company invested a total of 1.3 million euro ($1.4 million) in the construction of the factory, which covers an area of 9,500 sq m and has 150 employees, the Serbian government said in a statement.
You can download the 2023 Automotive industry in Southeast Europe report here
The factory was opened officially in the presence of Serbian prime minister Aleksandar Vucic who explained that German companies currently employ some 33,000 in Serbia.
Knott is active in Serbia via three subsidiaries, namely Knott Autoflex Yug, Motorflex Remont and Autoflex, which operate a production complex covering a total of 23,000 sq m in Becej and employ 570.
Knott Autoflex Yug was established in 2003 and produces annually 300,000 torsion axles, 200,000 fenders, and 25,000 chassis for car trailers.
($ = 0.9251 euro)