February 4 (SeeNews) - Children's footwear manufacturer Ricosta Croatia, a unit of Germany's Ricosta Group, will invest some 8 million kuna (1.2 million/1.1 million euro) in expanding its production facility in Vukovar, in eastern Croatia, the municipal authorities said on Tuesday.
Following the new investment, the company will need to employ 30 people by the end of 2020, the municipal government said in a press release.
Since the launch of operations, the number of employees at Ricosta's plant has increased by 75%, Vukovar mayor Ivan Penava said.
Ricosta Croatia started operatons in Vukovar on January 1, 2016. Currently, it employs 111 workers.
Local media reported on Tuesday that Ricosta Croatia should complete the capacity expansion project by April.
(1 euro = 7.45160 kuna)