German manufacturer of motor vehicle seats and components Grammer Group intends to invest 3.7 million euro ($4.3 million) into expansion of its production in Serbia, Serbian economy minister Goran Knezevic said
Grammer plans to hire an additional 450 employees at its factory in Aleksinac, in central Serbia, lifting its headcount to some 1,700, Knezevic said in a statement on Saturday.
The economy ministry and Grammer signed an agreement on reinvestment of the company’s profit in Aleksinac, which guarantees retention of jobs in the factory until 2023, the factory manager, Pierluigi Ghione, said in the statement.
Grammer opened its factory in Aleksinac in 2007. The company has 30 production sites in more than 20 countries worldwide and a total of 12,000 employees.
