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Draxlmaier to build facility in Kavadarci.

The German Draxlmaier Group announced an ad for election of top managers for the factory it is going to build in Kavadarci where it plans to invest at least 20 million euros and create 3,000-4,000 jobs. It is going to manufacture electronics and electrical cables for automobiles for the German market.

"According to our estimates, we expect annual export of over 100 million euros, a net amount of 40 million euros of which will be an added value in Macedonia. With this investment, we will have the opportunity of being one of the few countries being net exporters to Germany," Foreign Investments Minister Vele Samak said.

Draxlmaier's main client for the factory in Kavadarci is Mercedes. The company cooperates with all premium automobile brands from Germany.

Minister Samak informed that the German investor confirmed its decision for investment in December last year. The prime reason for the location of the investment, he said, was the towering unemployment in the region.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Mar 22, 2012
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