Truck Lite to open car parts factory in Cuprija - Memorandum of Understanding signed

(at the MoU signing ceremony)

The municipality of Cuprija has signed an agreement with the Property Directorate on the transfer of land rights and a Memorandum of Understanding with Germany's Truck Lite, which has created conditions to open the first factory in this town after four decades.

The agreement and MoU signing ceremony was also attended by Serbian First Deputy Prime Minister Aleksandar Vucic, who said that Serbia must be the center of the automotive industry in southeast Europe.

- We must be better, more competitive, stronger and ahead of everybody else - Vucic stressed and expressed satisfaction with the fact that Cuprija would get a new factory that was going to employ 500 workers.

Truck Lite representatives Stefan Fingsten, the general manager of Truck Lite Europa, and Sven Milhauzen, the global procurement director and the director of Truck Lite d.o.o Serbia, explained that that company was a subsidiary of the U.S. corporation Penke, whose annual turnover totaled about USD 20 billion.

Truck Lite is engaged in the production of car parts. It has eight factories employing 3,500 people world wide and a turnover of about 0.5 billion euros.