STARCO investing 4.5 mln euro in technology upgrade in Croatia

"The investments will allow STARCO to improve the carbon footprint of many products produced in the factory through greater energy efficiency, use of renewable energy and reduced steel content in the products," it said in a press release on its website.

A total of 1.3 million euro of the value of the project has been provided by Norway Grants. The rest is being invested by STARCO and its mother company KENDA using own funds and special development loans from Croatian state-owned development bank HBOR.

During the summer of 2023, a new paint system for wheels was installed. This system can handle more work at once and use the painting line and ovens more efficiently. The remaining equipment and building work are still in progress and are expected to be completed and operational by the first half of 2024.

The factory in Beli Manastir has eight wheel production lines where around 250 employees produce one million steel wheels per year.

($ = 0.928 euro)