Italian Vescovini Group opens Sabac-based plant - Investment of EUR 5 mil

The SBE Serbia plant, a part of the Italian Vescovini, has opened today in Sabac and it will produce mechanical parts for automotive industry.

A section which is related in business sense to Kragujevac-based Fiat, was opened by the Mayor of Sabac, Milos Milosevic and co-owner of the factory Federico Vescovini in the presence of the Bishop Lavrentije.

According to the Mayor of Sabac, cooperation with the Italian manufacturer is an experience for bringing new investors.

Upon the factory opening, Milosevic said it was the best example of what Serbia can offer to investor sat the moment - a duty-free zone, fully equipped and good with infrastructure.

- We would hardly achieve it if did have the support of the Free Zone Administration. If you attract five more this big foreign investors I think they will built the Sabac -Ruma highway- Milosevic said.

A total of EUR 5 mil has been invested in SBE Serbia, with the possibility of production expansion and additional investment of EUR 5 mil

Co-owner of the factory, Federico Vescovini, said it took two years from the first talks to the opening for project implementation.

He pointed out that by the end of the year, the factory will employ 35 workers trained in Italy and that the part of production will be export-oriented towards European Union and Asia.

SBE Serbia" currently employs 15 staff at four molding and pressing machines, and by the end of 2013, eight machine will operate.

Factory daily output factory totals 1.5 million of screws for Kragujevac-based Fiat.