Italian hosiery specialist Golden Lady has started building its third factory in western Serbia, its second in the city of Loznica.
With this latest EUR6m (US$8.6m) investment, the company’s total investment in Serbia since 2005 will exceed EUR100m.
“The building works will be over by the end of 2011,” said Golden Lady board member Gaetano Paolillo.
The new factory will make women’s stockings and tights – of which 90% will be exported worldwide through Golden Lady’s Italian trading offices – with only the 10% remainder being sold in Serbia. Mr Paolillo said the factory could also produce different kinds of underwear in future.