The Austrian company is to start construction of a factory in the town of Subotica in northern Serbia in June.The construction of the new Swarovski factory will start in June and should be complete by late 2014, Mladjan Dinkic, Serbia’s finance minister, said on January 16, after meeting Swarovski managers in Vienna.
The luxury crystal producer is expected to employ about 550 workers in Subotica, a northern town bordering Hungary.
The company plans to invest €15 million in the 15,000-square-metre plant. Production will be entirely intended for export.
Swarovski started cooperation with the Serbian government in November 2011, when the company signed a memorandum on the investment with the government.
In March 2012, the town of Subotica granted Swarovski 7.8 hectares of publicly-owned land for the factory.
Swarovski specialises in the production of crystals for jewellery and decorative pieces, as well as materials made of crystal for the fashion industry and crystal chandeliers.
The company employs about 24,840 people in 120 countries worldwide.