Foundation stone for factory of German PWO Group laid down in Cacak – Investment of EUR 89 million and jobs for over 500 people

The foundation stone for the construction of the new factory of the German PWO Group, which produces parts and equipment for motor vehicles, and in which EUR 89 million is to be invested, has been laid down in Preljina near Cacak. In Cacak, PWO Group planned the construction of a facility for the development and production of parts, tools, assemblies and components for the automotive industry. More than 500 people should be employed at this factory.

CEO Carlo Lazzarini said that Serbia had become “a magnet for many companies in the international automotive industry.”

– Each fifth foreign investment in Serbia is in the field of mobility. Serbia has become the winner in reorganizing the production in the field of mobility in Europe, especially when it comes to electric vehicles. Serbia is one of the three countries with relatively the biggest growth in the export of components for electric vehicles – he said.

Lazzarini pointed out that the company believed in the selected location in Cacak. He also reminded that PWO was a medium-sized, innovative company with nine production locations and 3,000 employees.

– What we produce can be found in nearly every car, in the seats, air suspensions, electric motor casings, dashboards, parts of the chassis, in their batteries. Out main competence lies in the development of light metal components and systems. We make steel light, which lowers the weight of the car and thereby lowers the consumption of energy and the costs of driving a car – Lazzarini pointed out.

He also added that Germany was the biggest purchaser of Serbian product and service exports, with 13.7% of Serbia’s total exports going to Germany, and that Germany was at the same time Serbia’s biggest supplier and that the trade balance was nearly even.

– Cacak and PWO will become another successful chapter in the economic history of Serbia. PWO plans to create more than 500 attractive and well-paid jobs which will help build the future of green mobility – he estimated.

– I believe that it will grow up to 800 people, because that is the level at which PWO Group employs in the Czech Republic and in Mexico, everywhere they’ve opened their factories – the president of Serbia, Aleksandar Vucic, pointed out on the occasion of the laying down of the foundation stone and added that the country had set aside slightly under EUR 17 million in subsidies for that project.

Vucic also pointed out that five of the 15 biggest exporters from Serbia were companies from Germany and that he expected even more cooperation with that country in the next period. He also assessed that the preceding days had not been easy for the two countries’ relations.

PWO Group mostly places its goods in the EU states, China and Mexico, and in 2022, it realized a consolidated income of EUR 27 million and had nearly 3,000 employees.

PWO SEE d.o.o. Beograd

Mašinsko saobraćajna škola Čačak

Fakultet tehničkih nauka Čačak

PWO Group

PWO Group factory in Preljina

Aleksandar Vučić

Carlo Lazzarini