Header Ads

German textile company launches brownfield investment in Veles


A plant, where technical and industrial textile will be manufactured, was inaugurated Saturday within a disused factory in the vicinity of Veles.

The plant, estimated at nearly €4 million, is an investment of the German company STS Textiles. Currently, some 20 people are working at the plant, but the investor plants to expand its workforce in the next five years, i.e. to hire 1,000 people.

"A mere year after starting to negotiate with STS Textiles, we have already reactivated the disused plant Nonca Kamisheva, where products are being manufactured for export in Germany, Poland, France, the United States. The owner has already invested €3 million to overhaul the plant, €4 million are expected to be invested by the year's end. €7 million are planned to be invested in the next five years," Jerry Naumoff, Minister in charge of attracting foreign investments, said at the opening.

Minister Naumoff said in the past four years he had managed to attract 29 investments from 13 countries. If the conditions are right, he added, investments of up to €200 million are expected in the next five years that could create 8,000 jobs.

The Macedonian government in the past several years has been working to improve the business climate in the country in order to attract foreign companies and to support local investors, according to Vladimir Pesevski.

"We've worked hard to attract renowned and successful foreign companies that can contribute to an increasing growth of the economy with their experience and knowledge in addition to opening new jobs. STS Textiles, i.e. its daughter company Lutex is one such company. Lutex, which is launching its production today, is a family company offering an innovative product," the Deputy PM for economic affairs said.

Speaking at the inauguration, the company's owner Markus Tutsch said a state-of-the-art equipment had been installed at the factory. "The plan is to boost production in the next four-five years and open more jobs," he noted.

Marco Aquatichi of the German embassy to Macedonia said Germany was Macedonia's top trade partner. "47% of products from Macedonia are exported in Germany," he stated.

In Macedonia, he added, 200 companies with German capital are operating, where nearly 15,000 people are employed.

VMRO-DPMNE leader Nikola Gruevski was also in attendance.

A contract with STS Textiles for the brownfield investment in Veles was signed in 2016. STS Textiles is a German home and automotive textiles maker.


No comments

Powered by Blogger.