HBIS Group pours USD 150 m in equipping of Smederevo-based forge

(Photo: Shestakov Dmytro/shutterstock.com)

The announcement states that in 2017 the company took the second place on the list of the biggest Serbian exporters and that it is planned that in the second year of operation app. USD 150 m is invested in production equipment and facilities.

As stated, in half a year as of takeover of steel plant in June last year USD 140 m was invested in technology and modernization and ‘seven-year losses trend was halted’.

This resulted in iron, steel and finished steel products production increase by about 55% and in December 2016 the first profit was generated, according to the announcement.