USCO moves production to Trstenik-based Prva Petoletka - Italian manufacturer of construction machines submits letter of intent

(Mikroelektronika production hall)

Italy's USCO submitted yesterday a letter of intent to the cabinet of the Prime Minister of Serbia, presenting its intentions related to negotiations and the conclusion of an agreement on cooperation with the company Prva Petoletka, reads a release issued by the Trstenik-based company.

As specified by the letter, USCO intends to relocate its production unit to Petoletka's Mikroelektronika production hall and employs fifty workers in the first phase of operations, whereas the value of planned production amounts to few million euros. The production will mainly be destined for export.

Also, USCO wants to utilize the transfer of knowledge, new technologies and production experience to make it possible for its products, which will be tagged "Made in Serbia", to be competitive and find their place in the global market. Representatives of Prva Petoletka stressed it was only one of the first steps in the cooperation with that Italian company intending to launch a brand new production process in Trstenik.

- This letter brings us one step closer to returning Petoletka to its former glory in the global market. The interest expressed by such big and serious strategic partner like USCO proves that our company has a competitive product portfolio and quality staff. We believe that the new factory will be an example of good investment in Serbia and give its contribution to the development of not only Petoletka, but also entire Trstenik - said Slobodan Dumanovic, deputy CEO of the company.