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ZAGREB (Croatia), August 1 (SeeNews) - Slovenian automotive parts supplier Cimos plans to invest 20 million euro ($23.4 million) in expansion of its three production facilities in Croatia by 2020, the Croatian ministry for state assets said.
"The 20 million euro project will lead to a large increase not only in terms of new jobs but also in the quality of our business," the ministry quoted the executive director of Cimos, Gino Berti, as saying in a press release on Tuesday, following the signing of an agreement for the sale of a plot of land of 22,114 square metres in the town of Buzet to Cimos for 7.5 million euro.
In May 2017, Slovenia's 'bad bank', DUTB, said it completed the sale of state-owned Cimos to TCH Cogeme, part of Italy's investment firm Palladio Holding Group, for 100,000 euro.
The Koper-headquartered group manufactures mainly turbo compressor and turbine housings, powertrain components, chassis and car-bodyparts. Cimos has a production footprint in four countries across Southeast Europe.
($ = 0.855378 euro)