Chinese pour EUR 48 m in Serbia - Meita Group builds a plant in Obrenovac, Streit expands sectins in Stara Pazova

On November 14, 2014, in the Government of Serbia, Memorandum of understanding on investments of Chinese Meita Group in construction of Obrenovac-based production department and investments of Streit Group in expansion of the company department in Stara Pazova, totaling EUR 48 m.

The investment in Obrenovac will total more than EUR 30 m and EUR 18 m in Stara Pazova and more than 1.400 people will be hired.

Memorandum was signed by the minister of trade, Zeljko Sertic and president of Meita Group, Ben Che, as well as the Executive Manager at Streit Group, Remi Bartelme, the mayor of Belgrade, Sinisa Mali, president of the Obrenovac municipality, Miroslav Cuckovic and Stara Pazova municipality, Djordje Radinovic.

Sertic said that with the Memorandum, Obrenovac and Stara Pazova will develop in economic sense even more.

- It is necessary that Obrenovac rehabilitates after floods – Sertic said.

Chinese Meita Group was set up in 1977. It produces auto components, motor components and numerous other industrial branches. The company has more than 6.500 people and in 2012, it generated profits of USD 450 m.

Streit Group has been a part of Meita group since 2007. Meita has 89% shares at Streit Group.