The German company Kromberg & Schubert will open a car cable plant in Krusevac on June 14, where it will employ 2,500 people once it starts working at full capacity, by 2022.
Representatives of the company, the Government of Serbia and the Town of Krusevac signed an agreement on this investment, worth EUR 29 million, in October 2016.
The government provided Kromberg & Schubert with incentives for the opening of the factory in the amount of EUR 9.5 million, and the Town of Krusevac provided 6.2 hectares of land and infrastructural connections.
Around 600 people work at the German company's facility in Krusevac at the moment, whereas the plan is to employ another 200 by the end of the year.
Kromberg & Schubert is a family company which produces car components and is a leading global supplier of wire systems, cables and injection technology products. It employs around 38,000 people in over 30 locations in the world.
The opening of the plant in Krusevac will be attended by Serbian President Aleksandar Vucic, the owner of the company, Hans-Otto Kromberg, German Ambassador Axel Dittmann and Mayor of Krusevac Jasmina Palurovic.