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Higson to open textile garments factory in Serbia
18
May '12
Nebojsa Ciric, Minister of Economy and Regional Development and Franz Koller, CEO of Higson Group (HG) Franz Koller signed the Memorandum of understanding regarding the intent of this German company to launch production in Serbia and invest €4 million.

After the signing of the memorandum, Ciric said that HG plans to start production in the municipality of Zitoradja, in the former factory "Amer Prom", and to employ about 500 workers in the first year of operations and a further 1,000 to 1,500 workers over the next two years.

This investment should start to be implemented in June or July, the Minister said and added that this company specialises in design, production and distribution of textile garments and is best known for its sportswear brand "Iguana".

The Minister underlined that it is very important that HG will open a factory in Zitoradja, which is an underdeveloped area with a high unemployment rate.

In the first phase the company will invest €1 million in high-tech machines, while the second phase will cost an additional €750,000.

Ciric explained that the products will be exported to the EU, Russia and other countries with which Serbia has agreements on free trade, noting that it is good that one more investor in the textile sector is arriving in Serbia.

He recalled that Serbia was the leader in attracting investments in 2011 and that the same trend continues in 2012, which shows the great importance of the Serbian government's strategy for attracting investments.

HG, whose annual turnover is $60 million, exports three million pieces of finished products from its factories in Indonesia and Myanmar every year. It plans to move about 10-15% of its production capacity from Asia to Serbia.

Serbian Government

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