November 8 (SeeNews) - German car parts manufacturer Tristone Flowtech Holding SAS will invest 30 million euro ($29.96 million) in the construction of a factory in Paracin, central Serbia, the local authorities said.
The investment will create 1,000 jobs, Paracin municipality said in a press release posted on their website on Monday.
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The construction of the factory is expected to begin in early 2023 with operations due to start by the end of next year, a spokesman of the Paracin municipality told SeeNews.
The factory will be built in the industrial zone of Zmic, spanning 9.2 hectares. Its planned capacity is still unknown.
Tristone Flowtech, headquartered in Frankfurt, has factories in Europe, Asia and North America. The company booked a total revenue of 352 million euro ($351.9 million) in 2021, according to its website.
The company produces battery, engine cooling, and air charge systems for the automotive industry.
($ = 1.0002 euro)