Leoni to open fourth plant in Serbia

The German-based company Leoni continues to expand in Serbia, announcing plans to open its fourth factory. The value of the investment in new plant will be €60m. The new plant, to be built in Kraljevo, will have 45,000 sqm of production space. By the end of this year Leoni plans to hire 150 people and to start production at the end of 2019 or the beginning of 2020. It expects to employ as many as 5,000 people by 2023. Last year, the cable and wiring systems producer opened its third Serbian plant in Nis where it currently employs 1,000 people. By the end of 2019 it plans to increase the number of employees to 2,200.