BELGRADE (Serbia), April 4 (SeeNews) - German car parts manufacturer Vorwerk Autotec plans to invest about 50 million euro ($61.3 million) in the construction of a factory and a testing centre in Cacak, in central Serbia, city mayor Milun Todorovic has said.
Vorwerk Autotec intends to build a factory spreading on 40,000 square metres in 2018 and to expand it to 65,000 square metres in the next six years, Todorovic said in a video file posted on the website of news agency Tanjug on Tuesday.
The company plans to open a total of 1,000 jobs and will carry out the training of employees in Germany and Poland, Todorovic said.
Vorwerk Autotec made the decision for the construction of the factory on March 9 after months of negotiations which started last year, he added.
In July 2017, Serbia's president Aleksandar Vucic said Vorwerk Autotec is studying the options to start manufacturing car parts in the country under a greenfield investment scheme.
Vorwerk Autotec, based in Wuppertal, is a developer of automotive suspension technology. The company operates factories in Germany, Mexico, China, Slovakia, Poland, the U.S., India and France.
($ = 0.815075 euro)