U.S. Cooper Tires acquires Krusevac-based Trayal for EUR 13 million - Employment of 700 people in the pipeline
The Government of Serbia and Cooper Tires signed an agreement today on the acquisition of the Krusevac-based automobile tire manufacturer Trayal by that U.S. company for EUR 13 million.
Serbian Minister of Economy Nebojsa Ciric said after signing the agreement in Belgrade that the U.S. company would invest EUR 50 million in Trayal and hire 500 people in the first phase.
He said that Cooper Tires would start producing tires in Serbia in Q1 2012, adding that the production would be increased from 500,000 to 3m tires a year.
The plan is to employ 700 workers at the Krusevac-based tire factory in the future, he announced.
The signing ceremony in the Presidency of Serbia was attended by Serbian President Boris Tadic and Serbian Prime Minister Mirko Cvetkovic.
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