BELGRADE (Serbia), September 17 (SeeNews) – Serbian company Mak Trade plans to expand the output of its factory in Rakovica, near Belgrade, through the acquisition of a new cable confection line, owner Slavko Radmilovic has said.

Mak Trade currently operates the most modern cable confection line in Europe and has received financing from the Serbian Development Fund to purchase a new one, Radmilovic said in a video file on the website of news agency Tanjug on Monday.

The Development Fund has provided a 40 million dinars ($374,000/340,000 euro) financing to Mak Trade this year, finance minister Sinisa Mali said in a statement on Monday.

"The goal of this company is to soon reach 200 employees from the current 82," Mali said.

Mak Trade is active in the production and sale of wiring accessories and spare parts for household appliances. The company exports its products to the markets of Southeast Europe and Russia, according to data published on its website.

(1 euro = 117.568 dinars)