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Italy's Thermowatt opens 2.5 mln euro factory in Serbia

Author Radomir Ralev
Italy's Thermowatt opens 2.5 mln euro factory in Serbia Source: Italian Embassy in Serbia

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)

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