Q:
A:
Benetton acquires Nitex
Nis,
31 May 2011
Minister of Economy and Regional Development Nebojsa Ciric and Chief Executive Officer of Benetton Group Biagio Chiarolanza signed today the contract on the purchase of Nis textile company Nitex.
Biagio Chiarolanza, left, and Nebojsa Ciric
Author:
Fonet
The signing of the agreement was attended by Serbian President Boris Tadic and Director of Benetton Group Luciano Benetton.
Tadic said on this occasion that better days and new investments are ahead of Serbia, noting that Serbian textile workers have a great experience and that Serbia is a country in which investors in textile industry can generate profit.
By signing the agreement, this Italian company becomes Serbian as well, and this investment will create new jobs in Serbia and improve citizens’ standard of living, Tadic said.
The Serbian President said that a joint session of the Serbian and Italian governments will be held within next few weeks as part of the strategic partnership of the two countries.
Ciric said that the opening of the Benetton factory in Nis marks a new beginning for the Serbian textile industry, adding that this has been achieved through joint engagement of the government and the local authorities.
Chiarolanza stated that over the next several years, Benetton will create a new centre of the Serbian textile industry in Nis, announcing that the company will build a complex of new factories.
Luciano Benetton observed that the company plans to create between 2,800 and 3,000 new jobs and invest around €50 million.
Benetton bought Nitex in May for a little over €3 million.
On 31 January, representatives of the Serbian government and the City of Nis signed an agreement with Benetton representatives about the rights and obligations regarding the company’s investment in Nis.
Benetton manufactures over 150 million clothing items a year and has a retail network of around 6,000 stores. Its annual turnover exceeds €2 billion.
This is a family business, founded in 1965 which today operates in 120 countries worldwide.
Tadic said on this occasion that better days and new investments are ahead of Serbia, noting that Serbian textile workers have a great experience and that Serbia is a country in which investors in textile industry can generate profit.
By signing the agreement, this Italian company becomes Serbian as well, and this investment will create new jobs in Serbia and improve citizens’ standard of living, Tadic said.
The Serbian President said that a joint session of the Serbian and Italian governments will be held within next few weeks as part of the strategic partnership of the two countries.
Ciric said that the opening of the Benetton factory in Nis marks a new beginning for the Serbian textile industry, adding that this has been achieved through joint engagement of the government and the local authorities.
Chiarolanza stated that over the next several years, Benetton will create a new centre of the Serbian textile industry in Nis, announcing that the company will build a complex of new factories.
Luciano Benetton observed that the company plans to create between 2,800 and 3,000 new jobs and invest around €50 million.
Benetton bought Nitex in May for a little over €3 million.
On 31 January, representatives of the Serbian government and the City of Nis signed an agreement with Benetton representatives about the rights and obligations regarding the company’s investment in Nis.
Benetton manufactures over 150 million clothing items a year and has a retail network of around 6,000 stores. Its annual turnover exceeds €2 billion.
This is a family business, founded in 1965 which today operates in 120 countries worldwide.
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans
-
Belgrade/Cairo, 20 June 2025New phase in relations with Egypt in field of agriculture
-
Belgrade/Athens, 18 June 2025Serbia’s leadership position in power sector