South Korean company opened a plant in Zrenjanin
South Korean company Essex Europe has opened an enamelled copper wire plant in Zrenjanin today.
The plant, in which more than EUR30 million was invested, spreads across 15,000 square metres in the industrial zone “Jugoistok-Ecka” and employs 160 people.
State subsidies of EUR1.6 million were provided for this investment.
The company Essex Europe develops new solutions in vehicle electrification, along with development of renewable energy sources. It is a part of the Superior Essex headquartered in Atlanta,USA, which is a member of the South Korea’s LS Group that produces electronic components and has an annual turnover of US$19 billion.
The company has plants on three continents – in the USA, Canada, Mexico, China, Malaysia, Germany, Italy, Great Britain and France. Zrenjanin based plant is the first production facility of the company Essex in Eastern Europe.
Piše: T. K.