Palfinger's new Serbian plant to start production in June - report

“After completing the first phase of construction in 2024, Palfinger will gradually establish steel and subcomponent production for a wide range of production lines, from loading cranes to access platforms, by 2027,” Gottfried Rumpl, Palfinger vice president pperations fabrication EMEA, was quoted as saying by media outlet Juzne Vesti on Tuesday.

The facility currently employ 70 workers, with plans to reach 375 by 2027, Rumpl added.

The executive also said that the new facility will enable the company to benefit from the strategic proximity to neighbouring countries such as Bulgaria, Croatia, Slovenia, and Austria.

Palfinger broke ground on the plant in September in an investment worth 35.5 million euro ($38.2 million). The Serbian government has provided subsidies totaling 4.6 million euro.

$ = 0.9305 euro