Slovenian company Elrad WS-S to open plant in Malosiste, 215 new jobs planned – State providing EUR 3 million in subsidies

The company ELRAD WS-S d.o.o. Preduzece za razvoj i proizvodnju kablovskih setova Vlasotince plans to invest at least EUR 10.1 million in developing a new production facility in Malosiste, with EUR 3.015 million in state support. The investment project also entails hiring at least 215 new workers by the end of 2028.

Under the incentive grant agreement concluded between the Ministry of Economy of the Republic of Serbia and ELRAD WS-S on September 24, 2026, the investment will involve the purchase and reconstruction of a brownfield facility, as well as the acquisition of new production equipment. The agreement stipulates that the total value of investment in tangible and intangible assets must be at least EUR 10,100,000.

The project is to be implemented over a three-year period starting from the date of application submission, while the company has committed to hiring at least 215 new workers on permanent contracts by the end of 2028. Projected wage costs for the newly hired employees over the two-year period following the achievement of full employment amount to at least EUR 7,853,286.

The state has approved a total of EUR 3,015,000 for the project, to be paid in four tranches based on the dinar equivalent at the National Bank of Serbia’s middle exchange rate on the date the payment request is submitted.

The first tranche, scheduled for 2026, amounts to EUR 2 million. To receive it, the company must demonstrate an investment of EUR 7 million and the hiring of 10 new permanent employees.

Two tranches are planned for 2027, EUR 300,000 and EUR 200,000. Payment is contingent upon the company demonstrating additional investments of EUR 1 million and EUR 1.05 million, respectively, as well as reaching a total of 158 newly hired employees.

The third tranche amounts to EUR 345,000 and is scheduled for 2028, requiring proof of an investment of EUR 690,000 and the hiring of a total of 47 new employees. The fourth tranche, amounting to EUR 170,000, is planned for 2029, requiring proof of an investment of EUR 360,000 and the condition that the company has not reduced its achieved headcount.

ELRAD WS-S DOO, based in Vlasotince, was established in 2009 and is owned by the Slovenian company ELRAD WS D.O.O. The company operates in the sector of manufacturing electrical and electronic equipment for motor vehicles, with its key markets including European Union countries, Switzerland, the United Kingdom, Serbia, and Turkey, as well as parts of the US and Asian markets.

According to the contract data, the company generated consolidated revenue of EUR 200.69 million in 2025, while the group employed approximately 1,924 workers.

The contract also stipulates that, upon the request of the Ministry or the Agency, the company must provide audiovisual material regarding the implementation of the investment project, which the state may use to promote Serbia as an investment destination.

The contract was signed in Belgrade on September 24, 2026, by Minister of Economy Adrijana Mesarovic and company director Vladimir Filipovic.

ELRAD WS-S DOO VLASOTINCE

Ministarstvo privrede Republike Srbije

ELRAD WS S DOO Preduzeće za razvoj i proizvodnju kablovskih setova Vlasotince

Ministry of Economy

Adrijana Mesarović

Vladimir Filipović

Malošište