Essex Europe, which produces wires for transformers, electro-motors and generators, is set to open a plant in Zrenjanin, northern Serbia. Its main customers are from the automotive industry, including Audi, BMW and Mercedes. The Serbian plant will cover customer needs the CEE region, including Hungary, the Czech Republic and Slovakia. Investment costs are estimated at €30m. In the first phase, to be finished in Q1 2019, the company will invest €18m and employed 100 people. The second phase should be finished by 2023, and the company will double its capacities and employ a total of 160 people. The company is the European subsidiary of Superior Essex, based in the US, and South Korea’s LS Group.
