German company "Sinalco international" and "Si and Si" group from Subotica opened new juice factory in Banja Vrujci spa - 9m EUR

Prime Minister of Serbia, Vojislav Koštunica, opened yesterday (May 30, 2006) the most modern factory for production of “Sinalco” drinks in the region in Banja Vrujci spa. This factory will operate within the system of companies “Si and Si” from Subotica.

The factory whose surface is 20,000 square meters is worth about 9m EUR. In the first phase, it will employ 60 workers. It is equipped with the up-to-date technology and it represents the joint investment of German partner and the aforementioned company from Subotica.

- As a result of good business moves of company “Sinalco” and “Si and Si” group, the mutual interest was that this investment be realized in Serbia. In that way, the advantages of Serbian business environment have been used - said Koštunica and added that the construction of that factory was the best confirmation that the business environment in Serbia had become very favorable for all kinds of "greenfield" investments.

Mongi Goundi, general manager of company “Sinalco international”, pointed out that the founding of joint venture represented extremely big challenge, as well as that all together would invest their efforts to make the new factory one of the most successful companies in Serbia.

- Like we planned and promised, we have, so far, invested about 20m EUR in Banja Vrujci spa, whereas “Sinalco” invested 7.5m EUR in the factory that is about to be opened, which contributed to the development and establishing financial stability in the region and company “Si and Si” - said Vojin Đorđević, president of “Si and Si” group.