PIROT, Serbia (Dec. 23, 2008)—Tigar Corp. has opened a $24.6 million rubber boot and footwear factory, which it claims is the largest and most modern plant of its kind in Europe.
Tigar CEO Dragan Nikolic said the plant has capacity for 2.5 million pairs per year, which will increase by June to 4 million pairs.
The three-year income from sales is expected to be about $104.9 million. The construction and initiation of the factory is part of a $44.7 million investment project, which will make the Tigar III complex one of the leading industrial centers in the Balkans.