the MoU signing ceremony

Serbian Deputy Prime Minister Verica Kalanovic yesterday signed a Memorandum of Understanding between Prva Petoletka (PPT) and Italy's USCO, by which the latter will transfer a part of its production to Petoletka's Mikroelektronika facility. USCO Finance Director Ferrari Aldo signed the MoU on behalf of that company, PPT announced in a statement.

- With the signing of the MoU, we start the implementation of a project that represents the first foreign investment in Trstenik. USCO will open a new factory for producing parts for construction machines in Trstenik, invest EUR 1.046 million in it and create 50 jobs - said Verica Kalanovic.

The company USCO is a renowned Italian manufacturer of original and spare parts for dredges and trench diggers.

USCO produces parts for the world's largest manufacturers of construction machines, such as John Deere, Hyundai, Hitachi, Sandvik, Caterpillar. This company has its most important production facilities in China and South Korea, and it currently employs over 1,000 people around the world and registers annual turnovers of about EUR 300 million, reads the statement.