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Draexlmaier opens new plant in Zrenjanin

Zrenjanin, 15 November 2012

Serbian President Tomislav Nikolic and Minister of Finance and Economy Mladjan Dinkic attended today the opening ceremony of the new plant of the company Draexlmaier Automotive in Zrenjanin, which will be manufactured cable sets for the company Fiat Automobiles Serbia, Kragujevac.

Author: Fonet

The German company Draexlmaier Automotive has invested €6 million in the opening of this plant in Zrenjanin, which will employ 806 new workers.

Through the encouragement of FDI, which is administered by the Serbian Investment and Export Promotion Agency (SIEPA), investment is backed with €5,000 for each new job.

Draexlmaier Automotive operates in Zrenjanin since 2007 , and cable kits are exported from Serbia to clients including BMW, Volkswagen, Mercedes and General Motors.

After the opening of the new facility Dinkic said that the Serbian government has succeeded in the first three months to completely stablise state and public finances, but also noted that it is not enough, since unemployment remains the biggest problem for Serbia, which is why the main task will be increasing domestic and foreign investment.

He pointed out that only such investments can increase employment and that Serbia will boost activity in this direction, and pointed out that the very stability of public finances does not make sense if there are no new jobs.

The stability of public finances will have its full effect once we solve Serbia's biggest problem, which is unemployment, said the Minister.

Dinkic said that a few years ago when Fiat started its investment in Kragujevac, central Serbia, he claimed that every job at its plant would create an additional three to four jobs in the country's car parts industry.

He added Fiat employed around 2,500, while the new Draexlmaier factory would provide work for over 700 people making cable sets for the new Fiat 500L.

Serbian President Tomislav Nikolic said that Serbia will fight against unemployment, poverty and crime, and that the current government will solve the problems that have been piling up for years.

Serbia will also develop energy, agriculture, automotive and aviation industry because it is the obligation to employ its citizens, said Nikolic.

Investors need to be sure that their investments will be safe, that they will not have problems and that they will be fully protected if they work in accordance with the law, he said.

The President also congratulated the company Draexlmaier on its wise decision to invest in Serbia and another even wiser decision to expand its investments, noting that Draexlmaier today opened 806 new jobs.

The opening of the new facility was attended by Minister of Agriculture, Forestry and Water Management Goran Knezevic and Fritz Draexlmaier, CEO of Draexlmaier Automotive that operates in more than 38 countries in Europe, North America and Asia.