February 7 (SeeNews) - Austrian electronic and electromechanical solutions group Egston System Electronics has started operating a cable production factory in Pancevo, in northern Serbia, the city government said.
Egston System Electronics plans to open 100 jobs at the factory in the next two to three years, the director of the factory, Karl Heinz Steindl said, according to a statement issued by the Pancevo city government on Tuesday.
The company plans to produce cable sets for construction industry machines in Pancevo and intends to hire mostly women, providing on-the-job training, Steindl said.
The project represents the first foreign direct investment on the territory of Pancevo, the city government noted.
Egston System Electronics operates two factories in the Czech Republic, as well as production plants in China and India.