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German Continental to invest in car factory in Subotica
Belgrade,
8 July 2015
Minister of Economy Zeljko Sertic, CEO of German company Continental for Serbia Zivko Topalovic and Mayor of Subotica Jene Maglai signed today a Memorandum of Understanding which will enable the employment of 500 new workers and an investment of €17 million.
The signing of the memorandum was attended by Prime Minister Aleksandar Vucic and Head of Market at Continental Markus Murk, which is one of the largest suppliers in the automotive industry.
Sertic said after the signing ceremony in the Serbian government that the signing of the memorandum with the German company Continental is an indicator of support to economic reforms undertaken by the Serbian government and to the efforts of the local government in Subotica.
He recalled that Continental has been doing business in Serbia, in Subotica, since 2011 when it employed 650 workers with the investment of €11 million.
The Agreement on investment will be signed within the next 30 days, and the factory should be opened in the second half of next year. The state will assist this investment with €3 million, and the city of Subotica will provide 2.5 hectares for the construction of the factory, the Minister of Economy explained.
The obligation of this factory is to employ 500 workers within the next three years, and to employ at last 1,150 workers within the next five years.
Murk said that the company Continental hopes to continue to do business successfully in Serbia.
This is the second time that we have signed a memorandum of understanding in Serbia. We started in 2011 and now we have 650 employees and are very competitive. In this second phase, after the signing of the memorandum, we hope to get good support as was the case in the first phase. Then nothing will stand in the way of our mutual success, Murk stated.
He pointed out that this company will need educated and skilled workers in the future, who are familiar with the technology in the automotive industry.
We as a company are ready to support that training, Murk said, adding that his company is willing to continue investing in Serbia.
Sertic said after the signing ceremony in the Serbian government that the signing of the memorandum with the German company Continental is an indicator of support to economic reforms undertaken by the Serbian government and to the efforts of the local government in Subotica.
He recalled that Continental has been doing business in Serbia, in Subotica, since 2011 when it employed 650 workers with the investment of €11 million.
The Agreement on investment will be signed within the next 30 days, and the factory should be opened in the second half of next year. The state will assist this investment with €3 million, and the city of Subotica will provide 2.5 hectares for the construction of the factory, the Minister of Economy explained.
The obligation of this factory is to employ 500 workers within the next three years, and to employ at last 1,150 workers within the next five years.
Murk said that the company Continental hopes to continue to do business successfully in Serbia.
This is the second time that we have signed a memorandum of understanding in Serbia. We started in 2011 and now we have 650 employees and are very competitive. In this second phase, after the signing of the memorandum, we hope to get good support as was the case in the first phase. Then nothing will stand in the way of our mutual success, Murk stated.
He pointed out that this company will need educated and skilled workers in the future, who are familiar with the technology in the automotive industry.
We as a company are ready to support that training, Murk said, adding that his company is willing to continue investing in Serbia.
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