Foundation stone for the new factory was laid. Vučić: "We wanted so much to bring them here"

Immediately after arriving at the construction site, Vučić met with the representatives of the company.

During the ceremony, Vučić said that a German factory was built in Čačak after many years.

"We managed to bring German investors. We solved the problems together and successfully, we were so eager about bringing PWO to Serbia," he said.

More than 500 people, and even up to 800, will be employed in this factory.

"Everything has been done for this company to come to Serbia and it will employ more than 500 people in the coming years. This will grow to 800 people," stated Vučić.

He said that the company will employ as many people in Čačak as it has in its factories in the Czech Republic, Mexico, Canada, and Germany, and expressed his belief that our company will be an important part of that chain.

TANJUG/ VLADIMIR ŠPORČIĆ/ nr

He pointed out that the economic cooperation with Germany is almost perfect, stating that 82,000 people work in German companies and that the exchange of goods and services will reach around 12 billion euros this year, which is almost unbelievable.

"Germany is by far number one in every segment as far as our cooperation with any country in the world is concerned," said Vučić.

He added that a new training center will be built in Čačak. As he said, it will serve young people from Čačak who will have a secure future in this city.

"We also started working on the bypass around Kragujevac. Those 22 kilometers will be finished in the next 2.5 years. By March, there will be a Čačak-Kraljevo highway. This is a big thing for Čačak," he said.

He thanked the company PWO Group for the investment amounting to 89 million euros, adding that he was proud that the state was able to allocate less than 17 million euros and called on the owners to build another plant by 2027, because by then, according to the agreement with the EU, state aid is cut off.

He pointed out that the progress of the whole of Serbia is the essence of everything and that he is sure that almost no one will leave Čačak.

"I am sure that PWO will work as best as possible, I wish you success. I want you to stay in this country for a long time," said Vučić.

About the company

PWO SEE CLL is owned by the German company PWO AG and is engaged in the production of parts and equipment for motor vehicles.

The group operates in the metal industry sector and owns plants for the production of parts for the automotive industry in Germany and the Czech Republic.

The main product markets are mainly the countries of the European Union, China and Mexico.

In 2022, the group achieved a consolidated revenue of 27 million euros and employed almost 3,000 workers.

As stated on the company website, PWO SEE CLL will invest 88 million euros and employ around 550 new workers in Kragujevac and Čačak through the implementation of an investment project related to the establishment of a plant for the development and production of parts, tools, assemblies and components for the automotive industry.

PVO GROUP has more than 100 years of experience and is a global company in the mobility industry helping to shape an environmentally friendly future through innovation and is completely independent of internal combustion engines.

The Electronic, Chassis and Airbag Components business unit covers a wide range of vehicle electrification components, including components for fast chargers and electronic control units.

In addition, it includes an electric motor housing for safety and comfort, for example for wipers and window regulators, as well as ABS and ESP systems.

Another fast-growing product line is powertrain components for electric vehicles, particularly in the area of battery and fuel cell technology.

In addition, PWO Group develops and manufactures various chassis and suspension components, especially batteries.

The Steering and Seats business unit is mainly engaged in the development and production of steering consoles and steering column tubes and metal structures for vehicle seats.

The mayor of Čačak, Milun Todorović, previously told local media that the construction of a large factory of the German company PWO will begin in May, which will employ 300 workers in the first phase.

"Nine engineers of that company are already working in Čačak. This is excellent news for our city. The contract will specify that in the last phase, up to 800 workers will be employed on 60,000 square meters of production space, on 11 hectares of land," said the mayor earlier.

As he stated, the better news is that of those 800 workers, about 80 percent will be highly educated.