Chinese Minth Automotive will manufacture aluminum parts in Loznica
In the beginning of April 2019 the Chinese manufacturer Minth Automotive Europe started the construction of a production plant for aluminum car parts in Loznica, western Serbia. The facility will create about 1000 new jobs and will be built in two phases. The company is investing 100 million euro in the new manufacturing unit, the Development Agency of Serbia (RAS) reported.
“The new Chinese investment in Serbia will be a milestone for Loznica, and it is of a great importance for Serbia in general”, said President Aleksandar Vucic, who attended the ceremony marking the beginning of the construction. He pointed out that he expected more Chinese investments in the country in future and more support from China for the economic development of Serbia.
The Minth Group carries out operations in more than 30 locations in China, Thailand and Mexico. The company supplies to a number of global car manufacturers. It holds more than 80 percent of global market share in the segment and exports its production to Australia, Europe, North America, Japan and Southeast Asia, RAS further informs.
LATEST issue 4/2023