Italian car producer FIAT announced that this year’s planned vehicle production at Serbian plant Kragujevac was reduced from 180,000 vehicles to 110,000-140,000. The main reason behind the cut is delayed export to the Russian market, according to the CEO of FIAT Serbia. If the delays are extended, this could even further curtail the production figures. FIAT production in Serbia kicked-off in mid-2012 and around 30,000 vehicles were delivered by the end of the year. AD Plastik (ADPLRA CZ) owns a factory in Serbia (ADP Mladenovac) for delivery of plastic car parts for the FIAT 500L model. The initial deal with FIAT was worth EUR 2mn, although the company plans to increase it up to EUR 5mn. FY12 sales in Serbia amounted to around HRK 21mn (EUR 3mn), which is roughly 3% of ADPL’s FY12 sales.
Source Balkans
