Slovenian-Serbian TPV Šumadija starts construction of car parts factory in Kragujevac – €6m

TPV Šumadija, the company that was formed through joint investment by Slovenian company TPV Novo Mesto and Agrošumadija Kragujevac, will start construction of facility on location Servis 2 in new industrial zone of the City at the end of September, at the latest. The basic activity of the company will be production of car seats, other car parts and agricultural machines. The most significant partners are Renault, BMW and Cimos. The opening should take place in April 2006. The value of the investment is €6m. The projected value of the production in the first year is €4m. The company will employ 400 workers.