Government of Serbia Gives Approval for Signing of New Agreements with German and Dutch Investors

At the proposition of the Ministry of Economy, the Government of the Republic of Serbia has given approval for the signing of new agreements with two companies – the German PWO SEE and the Dutch Ariston Climate Solutions. These are direct investments whose total investment value amounts to over RSD 19 billion, which is more than EUR 160 million.

– What’s especially encouraging are the 850 new jobs in the cities of Kragujevac, Cacak and Nis, which is the result of not just the needs of the investors in concrete projects and the demands which arise from their business plans, but also said local self-governments – said the minister of economy, Slobodan Cvetkovic.

The project of establishing the facilities for the development and production of components and tools for the automotive industry in Kragujevac and Cacak will be realized by the company PWO SEE d.o.o., whereas the establishing of the facility for the production of household appliances in Nis will be done by the company Ariston Climate Solutions d.o.o. Svilajnac.

PWO See d.o.o. is owned by the German company PWO AG and produces parts and equipment for motor vehicles. The group operates in the sector of metal industry and has facilities for the production of components for the automotive industry in Germany and the Czech Republic. The main markets for the placement of product are mostly EU states, China and Mexico. In 2022, the group had a consolidated income of EUR 27 million, employing nearly 3,000 workers. With the realization of the investment project, which pertains to establishing the facility for the development of components and tools for the automotive industry, PWO SEE d.o.o. will invest EUR 88 million and employ around 550 new workers in Kragujevac and Cacak.

Ariston Climate Solutions d.o.o. is realizing an investment which pertains to establishing the facility for the production of household appliances in Nis, whose realization will help employ at least 300 new workers by the end of 2027 and invest EUR 75 million by the end of 2026. The company produces household appliances and is owned by Ariston Holding NV, Netherlands, which operates within Ariston Group, a world leader in the production of products for the heating of water and spaces, components and boilers, with ninety years of tradition. The company has facilities for the production of heating components in Italy, France, Germany, China, Russia, Vietnam and, in 2022, it realized a consolidated income of over EUR 190 million, employing around 10 thousand workers. The company’s products are sold under the global brands of Ariston, ELCO and Wolf, mostly in EU states.

Vlada Republike Srbije

Ministarstvo privrede Republike Srbije

PWO SEE d.o.o. Čačak

Ariston Climate Solutions d.o.o. Niš

Grad Niš

Grad Kragujevac

Grad Čačak

PWO AG

Ariston Holding NV

Ariston

ELCO

Wolf

Slobodan Cvetković