Rapp Zastava opens section in Gruza October 9 - Investment totaling EUR 6,8 m

Kragujevac-based Rapp Zastava will open tomorrow in Gruza a production department on 10.000 m2 where it poured EUR 6,8 m in construction and equipment.

Norwegian RAPP Marine Group which bought in 2006 Zastava Masine from the former Zastava holding, and which is one of the most successful privatizations in Kragujevac, owns the company,

They produce components for ships, oil platforms and machines and they export 95% of production. They have 140 people, three quarters in production and according to Milovanovic, they are planning to hire 50 more.

A few days ago, the plant completely moved out from Kragujevac to Gruza where, in mid last year, it bought production department for EUR 620.000 from Kragujevac-based plant, 21. oktobar in restructuring.

Only the roof was kept out of the existing production section, Mihajlovic said.

According to Milovanovic, representatives of the Norwegian Embassy in Belgrade and the Government of Serbia will attend the production opening ceremony.