January 10 (SeeNews) - German electronics manufacturer Groschopp is holding intensive talks with officials of the Topola municipality, in central Serbia, to open a factory, the president of the municipal council, Vladimir Rajkovic, told SeeNews on Monday.
More details about the proposed investment can be expected next week when the local authorities will vote on it, Rajkovic told SeeNews over the phone.
The investment in the electric motors and industrial robots factory is likely to amount to millions of euro, a member of the municipality parliament, Dragan Jovanovic, said earlier in a Facebook post.
"It was agreed that the German company will set up a subsidiary, which will be the contractor. This is, of course, important because of the municipality's future income tax revenues," Jovanovic said.
Founded in 1948, Groschopp's main line of busines is electric motors and gearmotors manufacturing. It became a joint-stock company in 2000. The company is based in Viersen, in North Rhine-Westphalia, Germany.