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Austrian company SMF opens third factory in Serbia

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Austrian cable manufacturer SMF plans to open its third factory in Serbia, in which about EUR 250,000 will be invested – the company’s owner Berthold Felber said on Monday.

He told Viennese economic daily newspaper Wirtschaftsblatt that the location for the new unit was sought in the area between Kovačica and Szeged and that three options were shortlisted.

Serbia has plenty of advantages over the other countries in the region, one of which is the fact that Serbs are more willing to make agreement than the others – said Felber.

Company SMF in Serbia operates as a joint venture with a Serbian partner and it has two smaller cable factories, one near Niš and the other in Vojvodina’s town of Kovačica.

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Felber pointed out that it had proved better to invest with local partner in Serbia, primarily if the company wanted to make profit from the investment privileges.

SMF has 14 employees in Hungary and over 60 in Serbia – said the owner and added that the whole production had been situated in Hungary prior to 2000.

Felber pointed out that all major cable production units were being moved to Serbia.

Austrian SMF produces cables and its biggest clients are the railways and automotive industry. The company’s turnover in 2009 amounted to EUR 6m and it ended the year with profits – the Viennese economic daily newspaper announced.

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