Swarovski starts preparations for construction of factory in Subotica in December 2011 - Austria's crystal producer to invest EUR 40 million

Representatives of the Serbian government and the Austrian crystal and jewelry producer Swarovski signed Friday (18 November 2011) in Belgrade a Memorandum of Understanding for the opening of a factory in Subotica.

Swarovski plans to invest EUR 15 million in the first phase of the project, and create 600 new jobs, whereas the company's plan for the second phase is to invest additional EUR 25 million in the Subotica-based factory.

The Memorandum of Understanding was signed by Serbian Minister of Economy Nebojsa Ciric, Austrian Ambassador to Serbia Clemens Koja, and Subotica Mayor Sasa Vucinic.

Representatives of Swarovski did not attend the MoU signing ceremony in the Presidency of Serbia because the fog prevented their airplane from landing at the Belgrade airport.

Ciric stressed that Swarovski would kick off preparations for the construction of the factory in Subotica in December, on a land that would be allotted to that company by the city. He also added that it would be Swarovski's first factory outside Austria.