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The President of the Republic of Serbia, representatives of Essex and LS Group, President of the Provincial Government, and the Mayor of Zrenjanin laid the cornerstone of the new Essex wire factory in Zrenjanin’s industrial zone Southeast on Wednesday.
The factory, which will be focusing on the production of enameled copper wires, is a EUR 30 million investment and is expected to provide 150 new employment opportunities by the year 2023. Future employees of this production facility, which will begin its operations in autumn of 2018, will receive professional training at Essex plants in Germany.
In order to meet the demands of its Eastern European customers and strengthen its capacities related to the development of electric vehicles, Essex has expanded its business by investing in Serbia; taking into account its favorable geographic location and broad base of qualified personnel.
“Globally Essex employs over 3,100 people and through teamwork and a commitment to quality our employees have helped make us the largest manufactures of winding wire products in the world. This fact constantly reminds us that it is the people who really make a difference. We believe that the 150 Serbians who join Essex will gain the expertise, knowledge, and values that our business stands for.”, says Christopher Koo, Chairman of LS Group, within which Essex operates.
After construction, the Zrenjanin factory will be one of the most energy-efficient plants in Serbia thanks to the Essex commitment to sustainable development and an optimized, cutting-edge production process. The plant will be equipped with state of the art technology in order to reach the highest standard in the application of the Industry 4.0 process, which employs the use of digital technologies in the production process.
About Essex Magnet Wire — a Superior Essex Company
Essex Magnet Wire is the leading, global provider of magnet wire that is used by most major original equipment manufacturers (OEMs) and industry leaders in the automotive, energy, and industrial sectors. Essex Magnet Wire has facilities in 11 countries, on three continents, and operates its business to act globally but serve locally. Having 90 years of experience allows Essex Magnet Wire to deliver innovation that customers demand while being vertically integrated in the manufacturing process to ensure quality and provide seamless delivery services from distribution centers around the world. The Essex MagForceX™ Innovation Center is furthering technological advancements in magnet wire through research and development that will provide custom solutions to customer challenges into the future. For more information, visit, https://essexwire.com