German company to open factory in Pancevo – Investment worth EUR 180 million, jobs for 1,000 workers

Delegations of the government of Serbia and Germany have signed two bilateral agreements on cooperation in the fields of economy and education, which, according to Serbian President Aleksandar Vucic, bring investments worth EUR 300 million.

An agreement on the allocation of incentives was signed between Brose d.o.o. and the Ministry of Economy of Serbia. Minister Goran Knezevic signed the agreement on behalf of the Serbian side, and the investment is worth over EUR 180 million, according to a press release by the ministry.

– Under the agreement with Borse, the company is supposed to open a factory in Pancevo, where over 1,000 people, of which 400 with higher education, will be employed – Vucic said at the press conference.

Brose d.o.o. is part of the family company Brose Fahrzeugteile GmbH & Co. KG, which is headquartered in Coburg, Germany, and which produces electrical and electronic equipment for motor vehicles.

In Serbia, the company plans to produce steering motors, electrical oil pumps and cooling fan motors. The opening of an R&D center is planned as well, with over 40% of the planned jobs intended for highly qualified workers.

In 2018, Brose Group developed and produced components and systems for car doors, seats and bodies on 62 locations in 23 countries worldwide, and their clients include more than 80 car manufacturers. They have over 26,000 employees.

A memorandum of understanding to the end of a strategic partnership in dual education was also signed between MTU Maintenance Serbia d.o.o. and the Ministry of Education, Science and Technological Development. On behalf of the ministry, the agreement was signed by assistant minister Gabrijela Grujic. The investment is worth EUR 109 million.

Vlada Republike Srbije

Ministarstvo privrede Republike Srbije

Ministarstvo prosvete Republike Srbije

MTU Aero Engines AG

MTU Maintenance Serbia d.o.o. Beograd

Brose doo

Ministry for Economic Affairs and Energy of Germany

Peter Altmaier

Aleksandar Vucic

Goran Knezevic

Gabrijela Grujic

cooperation

signed agreements

factory

opening of a factory

motors

steering motors

electrical oil pumps

cooling fan motors