German company ZF opens car component plant in Pancevo

 

The German company ZF (ZF Friedrichshafen AG) opened a factory of car, boat and rail components at the industrial zone in Pancevo, where around 300 people will be employed initially.

EUR 100 million was invested in the construction of the factory in the first phase, and ZF has announced additional investments and the employment of more than 1,000 workers, as well as the construction of a scientific research center on 5,000 m2.

The German company had received over 9 ha of building land from the city of Pancevo without compensation, and the construction of the factory began in June 2018.

ZF, a leading car component manufacturer, employs more than 140,000 people in 230 locations in 40 countries, and its annual revenues amount to around EUR 36 billion.