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Austria’s Zumtobel to build 30.6 mln euro luminaire plant in Serbia

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Serbia’s government signed a deal for the construction of a 30.6 million euro ($35.9 million) luminaire production plant in the city of Nis with Austrian lighting solutions group Zumtobel on Friday, Belgrade-based media reported.

The new production facility will spread on 40,000 sq m and will employ 1,100 people, Beta news agenct reported.

Production in the plant is expected to start as early as May next year.

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The Serbian government has provided subsidies of eight million euro for the construction project, Serbian president Aleksandar Vucic, who attended the signing ceremony, said, according to Beta.

Zumtobel is a component of the blue-chip ATX index of the Vienna Stock Exchange. The company booked revenues of 1.356 billion euro in fiscal year 2015/16.

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