Germany’s Norma Group has opened a car parts factory in Subotica Serbia worth €11.2 million. The factory employs 45 workers and, according to the company’s plan, will employ a total of 327 workers within the next two years. This is Norma Group’s first factory in Serbia and the 17th factory in the world. The Subotica facility will produce joints, links and fluid pipes for vehicles. All production from the Subotica-based factory will be exported; the total annual export value from this factory will reach about €40 million once the production reaches full capacity. The German company has obtained €1.5 million worth of investment incentives from the Serbian Ministry of Economy. Norma Group is one of the world’s leading manufacturers and distributors of car parts for Volkswagen, Audi, Peugeot, and Citroen.
Source balkans.com
