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The Government of the Republic of Serbia

In the service of citizens

Henkel to build industrial adhesives factory in Indjija

Belgrade, 16 January 2007

Representatives of the Serbian Investment and Export Promotion Agency (SIEPA) and the company Henkel signed an agreement on allocation of non-refundable funds for encouraging investment from the National Investment Plan for the project of building an industrial adhesives factory in the municipality of Indjija.

The agreement was signed on the basis of the Decree on conditions and methods of attracting direct investments, and Henkel is expected to employ 60 persons in Indjija and invest a total of €5.232 million during the upcoming three years.

According to a statement by the SIEPA, a decision was brought by the committee to allocate non-refundable funds for encouraging investments allowing Henkel to receive funds worth €150,000 from the National Investment Plan, which is €2,500 per new employee.

Henkel is renowned worldwide for production in the areas of personal hygiene, household chemicals, adhesives and glues for industrial use. Henkel also plans to begin a new investment project in 2008, which is the construction of a factory for producing liquid mortar.

Modern technology will be used in the production process in Indjija, and it is envisaged that some 50% of production will be exported to countries of the region. Participation of domestic suppliers will be 100%, since all necessary materials will be acquired inside Serbia.

According to the statement, on November 24, 2006, when the second cycle of distribution of funds announced by the SIEPA was concluded, a total of 43 applications reached the Agency for non-refundable investment incentive funds.

An expert committee brought the decision on December 20, 2006, on distribution of funds to 10 companies, four of which are foreign and six domestic, and a total of €3.43 million will be distributed for creating 1,672 new jobs.

An amount of €7.2 million was distributed during the first cycle for 3600 new jobs. A total of 18 applications were submitted, and funds were distributed to three foreign companies and one domestic firm, reads the statement.