February 19 (SeeNews) - The Bosnian unit of German automotive corporation Veritas AG - Veritas Automotive - will soon complete the construction of a new 4.2 million marka ($2.3 million/2.1 million euro) logistic facility at its car parts factory in Sarajevo, local media reported on Wednesday.
The new facility, spreading over 5,000 square metres, is being constructed by local company ASA Sped, part of ASA Group, business news portal Biznisinfo.ba reported.
"The project envisages expansion of the existing logistic space by another 15,000 square metres and the employment of 805 new workers," Biznisinfo quoted Veritas Automotive CEO Ervin Berbic as saying.
The German company has invested 30 million euro so far in Bosnia, as its exports amount to 38 million euro per year.
The exports will rise to an annual 80 million euro after the 31 million euro investment in additional capacities planned for the forthcoming period, according to the report.
Veritas Automotive produces fluid fuel systems, oil, brake systems, for car manufacturers such as BMW, Volkswagen, Audi, Ford, Mercedes, Seat, Skoda.
Gemany-based Veritas AG has branches in Bosnia, Turkey, Austria and Hungary in Europe, as well as in China, the U.S. and Mexico, company data showed.
(1 euro = 1.95583 marka)