March 10 (SeeNews) - Chinese car parts manufacturer Minth Group has inaugurated a 100 million euro ($110.3 million) production plant in Loznica, western Serbia, it said on Thursday.
The plant will manufacture aluminium parts for cars that will be supplied primarily to BMW, Renault, and Toyota, president Aleksandar Vucic said during the inauguration ceremony as seen in a video posted on the YouTube channel of Tanjug news agency.
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The factory will employ around 1,000 people, Vucic said, and added that Minth has plans to open more production plants in Serbia and hire over 3,000 people in total.
Minth Group operates in Serbia through three subsidiaries - Minth Automotive Europe, Minth Automobile Parts Balkan, and Minth Metal Parts Balkan.
Apart from the plant in Loznica, Minth has a production facility in the western city of Sabac. It is also building a second plant in the city, in which it plans to produce metal components for car bodies.
($ = 0.9079 euro)