BELGRADE (Serbia), February 20 (SeeNews) – Serbian foundry Livnica Pozega will invest 3.5 million euro ($4.6 million) this year in the production of composite brake pads and ferodo brakes for rail vehicles, local media reported on Monday.
Trial production is expected to start in May in cooperation with German firm Bremskerl which will supply the raw materials, news provider eKapija (www.ekapija.rs) reported, quoting unnamed sources from Livnica Pozega.
A total of 2.0 million euro of the investment costs will be split evenly by Livnica Pozega’s co-owners, Koncern Farmakom MB and railway operator JP Zeleznice Srbije, while 1.5 million euro will be provided by the state-owned Development Fund.
The new production programme will open 50 new jobs.
Pozega (www.livpozega.co.rs) produces mainly gray iron castings for railway vehicles. The company exports to former Yugoslav republics, Bulgaria, Greece, Austria and the Czech Republic.
($=0.7599 euro)