Agreement on building a "Dytech" factory in Nis

Agreement to build a new factory for the Italian company "Dytech" was signed today (July, 13th, 2010). "Dytech" is a manufacturer of pipes for the flow of fluids in the automotive industry, and the new factory will employ 400 workers.

Agreement on the "greenfield" investments, whose value is EUR 12 million, was signed by the owner and director of "Dytech" Guliano Zuko, the mayor of Nis, Milos Simonovic and The Minister of Economy, Mladjan Dinkic.

The signatories have announced that construction of the "Dytech" factory in Nis would start no later than September, while production would begin in the second half of next year.

Minister Dinkic said that "Dytech" would supply from the factory in Nis, the companies like "Mercedes", "Reno", "General Motors" and "Fiat" , and that complete production would directly or through the "Fiat" in Kragujevac, go to export.

- "Dytech" is the first investor in Serbia, which will get from the Government € 10,000 per each new worker, which is the maximum amount that allows the new regulation - Dinkic said.

Dinkic said that the Government would finance training of the workers through the National Employment Service, for both "Dytech" and a South Korean company" Yura ".

Owner of "Dytech", Mr. Zuko explained that the annual production of Nis factory would worth 30-35 million EUR.

Mayor Simonovic added that Nis was the first city, which provided free land for large investors, that is regulated by the new Law on planning and construction.

"Dytech" received from the city of Nis, a free land of 2.5 acres in the work zone Lower Medjurovo.

The Torino company has factories in Italy, Tunisia, Turkey, Russia, Brazil, China and Mexico and employs 3400 people. Its annual turnover is 270 million EUR.