October 1 (SeeNews) - German car parts manufacturer Brose plans to start production activities in Serbia's Pancevo at the end of 2021, the Serbian government said.
Brose expects to complete the construction of its Pancevo factory in the spring of next year and to invest a total of 180 million euro ($211 million) in the development of the production facility by the end of 2026, the government quoted CEO Ulrich Schrickel as saying in a press release on Thursday.
The German firm intends to hire 1,100 employees and 460 of them will be highly-qualified engineers, as it also plans to launch a research and development (R&D) unit, Schrickel said during a meeting with Serbian prime minister Ana Brnabic.
Brose is manufacturing electric motors and drives, as well as mechatronic systems for car doors and seats. The company has 26,000 employees working at 63 locations in 23 countries, according to data from the corporate website.
($ = 0.854111 euro)