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BELGRADE (Serbia), November 8 (SeeNews) - Italian heating elements manufacturer Thermowatt has opened a 2.5 million euro ($2.8 million) factory in Svilajnac, in central Serbia, the Italian Embassy in Serbia said.
The factory will have a workforce of 40 employees, as Thermowatt plans to increase their number to about a hundred in the next two years, the Italian Embassy in Serbia said in a statement on Thursday.
Thermowatt made the investment through its Serbian fully-owned subsidiary S.H.E. Superior Heating Elements, the Embassy said.
The Italian company produces sheathed heating elements and thermostats for water heaters, domestic and commercial electric appliances. It has a total workforce of 600 employees.
($ = 0.9054 euro)