Govt., Johnson Electric sign memorandum "for 2,400 new jobs"
Serbian government officials and Johnson Electric top managers signed on Thursday in Nis a memorandum of understanding on new investment and job creation.Source: Tanjug
The company has a factory in this town in southern Serbia.
The signing of the memorandum, which stipulates investing EUR 50 million into a new production plant and hiring additional 2,400 people, was attended by Serbian Prime Minister Aleksandar Vucic.
The memorandum was signed by Minister of Economy Zeljko Sertic, Nis Mayor Zoran Perisic and Director of Johnson Electric d.o.o. (limited liability company) Markus Schmitz, Vice President for Europe Austin Wang, and Laurent Cardon from that company.
The expansion of the existing capacities should be realized in the next five years, according to plans.
The company currently hires 365 people. By the end of 2015, the number of employees is planned to stand at 582, and by 2020 - at 3,400.
Johnson Electric manufactures engines, coils, switches, flex circuits and microelectronics. The company signed the first contract with the Serbian government in late 2013.
Johnson Electric is a global company based in Hong Kong. It employs over 30,000 people in over 30 countries across the world.