JFE Shoji Serbian unit breaks ground for 50 mln euro plant

The factory will produce metal parts for electric motors and employ between 100 and 150 workers, Vucic said as seen in a YouTube video published by Tanjug news agency.

According to the Serbian business registry, JFE Shoji Serbia was established in June 2023 with a capital of 663.9 million dinars ($6.2 million/5.7 million euro).

Local media reported in January that JFE Shoji Corporation, which manufactures rotors and electric motors for the automotive industry, cooperates with Japan’s Toyo Tires and Nidec, which are already operating in Serbia.

JFE Shoji Corporation processes and distributes steel products, iron and steel raw materials. It has 43 companies in Japan and 54 worldwide, according to its website.

$ = 0.9171 euro