A 180 million euros worth investment in total, includes new factory in Pancevo, Serbia, and Research and Development Center.
Pancevo will be the home of a production site for electric motors and drives as part of the first stage of expansion to be completed by 2021. Also, around 1.100 people will find a career opportunity in production, development, and administration.
Construction work on the 220.000 square meter site, as planned, will take around a year. The production of drives for cooling fan modules is set for summer 2021, followed by motors for steering systems and oil pumps.
Groundbreaking ceremony attended Thomas Spangler, Executive Vice President Operations Brose Group and Michael Stoschek, Chairman of the Brose Group, President of the Republic of Serbia Aleksandar Vucic, H.E. Ambassador of Germany to Serbia Thomas Schieb, head of the Vojvodina provincial government Igor Mirovic, and a major of Pancevo Sasa Pavlov.
Thomas Spangler, Executive Vice President Operations Brose, said that Brose Group has ambitious plans in Serbia, moreover, it has already allocated 120 million euros for this first phase of the Pancevo project (60.000m2) - production line and construction of R&D center. He added that the factory will be focused on production of electromotors.
Also, as Spangler mentioned Pancevo plant will become the main supply center for the European market. According to him, it is planned to have a turnover of 440 million euros in Serbia by 2025.