Serbian Minister of Economy Goran Knezevic today signed an agreement with the Chinese company Automotive Europe, which envisages the construction of a factory in Loznica where 1,000 people should be employed.
Minth plans to invest EUR 100 million in the facility in Loznica, where it will produce aluminum roof base carriers, vehicle covers, aluminum door frames and car batteries.
As the Ministry of Economy announced, the investment will be realized in several phases.
In addition to the economy minister, the agreement was signed by the director of Cheerplan HK Limited, Chin Yong Huon, the director of Minth Automotive, Ching Li Wong, and the mayor of Loznica, Vidoje Petrovic.
Minth Automotive Europe, as well as Cheerplan, is a member of the Chinese Minth Group and is one of the leading world suppliers when it comes to the design, production and sale of structural components, covers and decorative parts for passenger vehicles.
Minth Group produces in over 30 location in China, Thailand and Mexico. It exports to Australia, Europe, North America, Japan and southeast Asia.
The company supplies the leading car manufacturers which make up more than 80% of the global market.
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