Q:
A:
Benetton signs agreement on opening factory in Nis
Nis,
31 January 2011
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic and representatives of Benetton and the City of Nis signed an agreement on opening a Benetton factory in this city, which will hire 2,700 workers over the next four years.
Author:
Beta
The investment is worth €43.2 million, and the state will endorse the project with €9,000 per each new employee.
Following the signing Dinkic said that this is the greatest event for the Serbian textile industry in the last ten years, adding that thanks to this investment the south of Serbia will become the centre for this branch of industry.
Benetton will officially become the owner of Nitex in March, and the plan is to launch production in this company in May, he observed.
Benetton is purchasing Nis-based Nitex’s assets for €3 million and plans to bring down a half of its halls in order to construct new facilities and procure new equipment, Dinkic said, noting that according to projections, the new factory will produce one million clothing items by the end of the year.
He added that the projected annual turnover at full capacity is €72 million, and the production will be mainly export-oriented.
This way of stimulating investors is very remunerative as the analyses we conducted affirm that the money will be paid off within a year through the payment of tax for employees, Dinkic explained.
Local construction companies will also be engaged in the reconstruction of Nitex facilities, he underlined, adding that they will receive between €10 and €15 million for their engagement in this project.
Benetton is a family company founded in 1965 and one of the largest in textile fashion industry, present in 120 countries worldwide.
Their core activity is the production of clothes through brands such as United Colours of Benetton, Sisley and Playlife.
Following the signing Dinkic said that this is the greatest event for the Serbian textile industry in the last ten years, adding that thanks to this investment the south of Serbia will become the centre for this branch of industry.
Benetton will officially become the owner of Nitex in March, and the plan is to launch production in this company in May, he observed.
Benetton is purchasing Nis-based Nitex’s assets for €3 million and plans to bring down a half of its halls in order to construct new facilities and procure new equipment, Dinkic said, noting that according to projections, the new factory will produce one million clothing items by the end of the year.
He added that the projected annual turnover at full capacity is €72 million, and the production will be mainly export-oriented.
This way of stimulating investors is very remunerative as the analyses we conducted affirm that the money will be paid off within a year through the payment of tax for employees, Dinkic explained.
Local construction companies will also be engaged in the reconstruction of Nitex facilities, he underlined, adding that they will receive between €10 and €15 million for their engagement in this project.
Benetton is a family company founded in 1965 and one of the largest in textile fashion industry, present in 120 countries worldwide.
Their core activity is the production of clothes through brands such as United Colours of Benetton, Sisley and Playlife.
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