The Memorandum of Understanding was signed with this company on 16th of February 2011. This company, based on the Decree under which local government can alienate the land, met all the conditions and signed the Contract on September 15th 2011 to gain right on ownership of the land without charge.

From November 2012, Contitech Fluid Serbia Ltd. operates in a newly built production facility of 6.000 m2, on the location of Industrial zone Mali Bajmok, within the tax-free zone regime and currently employs about 100 workers. In following four years, the company plans to employ about 300 workers in total. Based on the economic and market conditions in the future, from the year 2015, the investor has the intention to build another production facility (second phase) of similar size on the same plot, and to employ around 400 workers.

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