Calzedonia invests 20 million euros in production expansion in Subotica

Serbian Minister of Economy Nebojsa Ciric will tomorrow (29 November 2011) sign an agreement with the Italian lingerie producer Calzedonia on the company's new investment in the factory in Subotica, the Investment and Export Promotion Agency of Serbia (SIEPA) announced.

As it was explained, Calzedonia's investment in Subotica is worth EUR 20 and should result in the creation of 1,000 new jobs until the end of 2014.

The company's representatives announced that they would apply for a grant from the SIEPA-administered Program for Financial Support to Investments, and Calzedonia has already received an additional grant of EUR 800,000 from that Program for the expansion of its investment in Sombor, that is, EUR 2,000 for each of 400 newly created jobs.

Nebojsa Ciric will sign the agreement on Calzedonia's investment in Serbia with Francesco Rufolli, investment director of that Italian company, and Subotica Mayor Sasa Vucinic.

Calzedonia operates in Serbia since 2010. It has a factory in Sombor and is engaged in the production of stockings, bathing suits and underwear for children, men and women.

This Italian company has a network of about 3,000 stores worldwide and generates over EUR 1 billion worth of revenues per year, the Ministry of Economy of Serbia announced.