March 27 (SeeNews) - Serbia's government said German manufacturer of vehicle seats and components Grammer Group plans to invest 5 million euro ($5.4 million) in the expansion of its production plant in Aleksinac, in central Serbia.
The company will open 450 new jobs at its plant in Aleksinac which currently has 1,338 employees, the Serbian government said in a statement late on Friday.
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The additional investment of Grammer Group is an important signal to other investors and the Serbian government is ready to keep supporting the development of the German company, Serbian prime minister Aleksandar Vucic said in the statement.
The investment project was presented on Friday to Vucic by the president of the Serbian unit of the company, Pierluigi Ghione. Grammer Group has 30 production sites in more than 20 countries worldwide and a total of 12,000 employees.
($ = 0.920213 euro)