Geox to open new factory in Serbia

Geox Chairman Mario Moretti Polegato has agreed terms with the Serbian government.

Italian footwear manufacturer Geox has announced its intention to open a factory in Serbia, with an annual production capacity of 1.25 million pairs of shoes.

The €15.8 million ($20.5 million) plant in the southern city of Vranje is expected to employ 1,250 when production begins in 2014. According to the office of Serbian Finance and Economy Minister Mladjan Dinkic, the shoemaker will receive aid from the government for creating jobs. As part of the agreement signed by Geox Chairman Mario Moretti Polegato, the government will reportedly provide €9,000 ($11,700) for each new job.

Publishing Data

This article was originally published on page 2 of the December 2012 issue of SATRA Bulletin.

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