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Expansion of Italian textile company & a new dye factory
Feb '11
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic and President of Italy's Pompea Adriano Rodella signed an agreement on allocating funds for directive investment, worth €1.5 million, intended for the expansion of textile production.

Dinkic said that 300 new jobs will be created, 150 in Zrenjanin and Brus each.

The total investment will exceed €3 million and it will be used for the opening of a new dye factory in Zrenjanin, which will help 150 people to get employment, Dinkic stressed, adding that 30 workers will start working tomorrow, while the rest will be taken on before the end of the year.

The Deputy Prime Minister recalled that Pompea bought a factory in Brus nine years ago for €25 million, while the one in Zrenjanin is a Greenfield investment.

Together with General Manager of Radijator company from Zrenjanin Nedeljko Grubes Dinkic signed an Agreement on the allocation of funds for direct investment worth €955,000.

Following the signing, Dinkic said that 191 jobs will be created whereas the production will be doubled in comparison to last year. It will rise to approximately €20 million and will mostly be directed to the EU.

He explained that Radijator will receive approximately €5,000 per each new employee and these funds will be used for building a new production line that will increase the production twofold.

The total investment into the new production line will be more than €4.5 million, the Minister specified and added that this is the seventh firm in Zrenjanin whose construction or renovation is assisted by the state through programmes of the Serbian Investment and Export Promotion Agency (SIEPA).

These programmes included 151 companies in Serbia last year, of which 44 in Vojvodina, Dinkic recalled.

Salaries in Radijator are around RSD 45,000, which is above Zrenjanin average, but these jobs are very difficult, Dinkic said and noted that more than 800 people applied to a recent opening for 130 jobs, which best illustrates the high unemployment rate in Zrenjanin.

The main products of Radijator are manholes, fireplaces and other castings of gray and ductile iron, boilers and radiators, which are mostly exported to Croatia, Spain, Italy and other European countries.

Government of the Republic of Serbia

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