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German socks manufacturer invests in Serbia
19
Mar '12
Falke, a German socks manufacturer, has invested in a new unit in Leskovac, southern Serbia.

The new factory has been set up on an area of 16,000 sq m within the Industrial Zone at a cost of around €10 million.

Under a scheme to attract foreign investment, the Serbian Government contributes €4,000 per each work position. Thus, Falke received €2.4 million from Serbian Government for setting up the new unit employing 600 workers.

Speaking at the inaugural ceremony of the opening of the new Falke factory, Serbian President Boris Tadic said the investment by the German company would help in revitalization and promotion of the entire textile, apparel and accessories sector in Serbia.

The President said Serbian economy benefits from having Germany as one of its major foreign trade partners.

Paul Falke, owner of Falke, said the new unit in Leskovac would annually produce 15 million pairs of high-quality socks and stockings, mainly for exports.

He said Falke has experience of working with the textile and apparel industry in Leskovac. He informed that one of the main reasons for Falke deciding to set up a manufacturing unit in Leskovac was the availability of skilled workforce in the Serbian town.

Fibre2fashion News Desk - India

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