October 8 (SeeNews) - Serbian wooden products manufacturer Labor Srb has completed a project for expansion of its factory in Sremska Mitrovica, the government of the country's autonomous province of Vojvodina said.
The project, which involved the construction of a new facility at the factory, will allow Labor Srb to open 53 new jobs in Sremska Mitrovica, in northern Serbia, the Vojvodina's regional government quoted Serbia's president Aleksandar Vucic as saying during an official ceremony for the completion of the works on Friday.
"The new expansion of the factory is significant not only for Sremska Mitrovica, but also for Vojvodina as a whole, because it opens new jobs, especially since companies such as Vojvodina Sume provide raw materials to Labor Srb," the president of the Vojvodina government, Igor Mirovic, said.
The value of the investment was not disclosed.
Labor Srb is a subsidiary of Italian companies Finest SpA and Labor-Legno SpA, which own 25% and 75% of its capital, respectively, according to data from Serbia's Trade Register.