Chinese automobile parts producer Minth Team has opened a EUR100 million (US$110.3 million) plant in Loznica, western Serbia, according to SeeNews.com.
The plant will manufacture aluminium parts supplied primarily to BMW, Renault, and Toyota, president Aleksandar Vucic said during the inauguration ceremony.
The manufacturing facility will utilize about 1,000 men and women and Minth has options to open more manufacturing plants in Serbia and employ in excess of 3,000 folks.
Minth Team operates in Serbia as a result of a few subsidiaries – Minth Automotive Europe, Minth Vehicle Elements Balkan, and Minth Metallic Components Balkan.
Apart from the plant in Loznica, Minth has a factory in the western metropolis of Sabac. It is also constructing a next plant in the city, in which it designs to make metal factors for automobile bodies, SeeNews claimed.