Minister Bubalo opened new unit in textile factory "Dunav"

Minister of Economy, Predrag Bubalo, has opened the unit for production of wrapped elastin yarn in textile factory "Dunav" in Grocka, in which Austrian company "Dinalast" invested 2m EUR.

The unit contains 26 modern machines from Austria and it will be producing 300 tons of yarn on annual basis, 75% of which will be exported.

General manager of the factory, Petar Stojanović, stated that, thanks to the new unit, "Dunav" would increase total income from 6m to 9.5m EUR in 2007 and he pointed out that the first quantities of yarn from the trial production had already been delivered to the foreign buyers.

The owner of Austrian factory "Dinalast", Reinchard Schnaider, said that he had picked Serbia because of lower expenses of highly qualified manpower, as well as due to the fact that its economy was slowly developing and that it would quickly find the way to European Union.