The German company Marquardt officially inaugurated Wednesday its plant in Macedonia built in the Karaslari industrial zone near Veles. 170 people are already working in the 15,000 square-meter plant, where a total of 600 jobs are planned to be created. So far, EUR 25 million have been invested with a total of EUR 35 million due to be invested in the future.

The new plant was opened by Prime Minister Nikola Gruevski, the company’s CEO Harald Marquardt, Deputy PM in charge of economic affairs Vladimir Pesevski and Minister for Foreign Investments Vele Samak.

“This is the first major foreign investment in Veles and the first large plant in 20 years in this city in central Macedonia,” PM Gruevski stressed.

By opening this plant, he noted, the trend to shut down factories in Veles, which was taking place for many years in this city, is ceased.

“Marquardt is considered one of the biggest suppliers of car parts worldwide and the company’s investment in Macedonia further reinforces the image of a country favorable for the automotive industry,” the PM said adding the investments by many foreign companies, including Marquardt’s, meant that the local industry in Veles and beyond would be further supported.

After making initial contacts with the company in a bid to invest in Macedonia seven years ago, its official decision was finally announced in 2013. Marquardt started building the plant in April 2014 and the production process began this June.

“The plant in Macedonia is our tenth subsidiary and is planned to play a significant role in the Group,” said CEO Marquardt adding their investment was estimated to be over EUR 35 million.

The country’s location and the safety ensured by the government’s policy was the decisive argument in deciding to invest in Macedonia, according to him.

“Macedonia was not on our list for investments until Macedonian government officials had made a presentation. And your country emerged victorious in competition with two other countries,” noted Marquardt.

The Marquardt investment will add to the results of other foreign investments in Macedonia in terms of export and job creation, said Minister Vele Samak.

According to Deputy PM Pesevski, the Marquardt company was from a technological point of view the ‘most sophisticated company’ in Macedonia that was set to hire qualified workforce. “The company’s investment only reaffirms the government’s concept on opening industrial zones across the country.”

Marquardt, whose plant is the first one built in Karaslari industrial zone, manufactures automotive systems for Jaguar, Land Rover, Renault, FIAT, BMW, etc.

Set up in 1925, Marquardt is headquartered in Rietheim-Weilheim, Germany. The manufacturer has a global workforce of over 6,000 and operates facilities located in Germany, Switzerland, France, Romania, Mexico, Tunisia, China, India and the US. In 2012, the group reported a turnover of more than €650m, according to data released by Marquardt.