BUNARDZIK, Macedonia (May 20, 2010)—Italian high-pressure hose maker TeknoHose said it is setting up a manufacturing plant in Macedonia.
The company expects to invest $12.4 million in the plant over five years, which will employ 150 in a development zone around Skopje.
Andrea Vitillo, owner of Italian Gruppo Vitillo, which includes TeknoHose, said the company had acquired land in the region in November 2009, but had put the project on hold because of the financial crisis.
Orders and business have increased in the first quarter of 2010, and the company has decided to take the project forward, Vitillo said.
Vitillo said production should begin early in 2011. Gruppo Vitillo reports annual sales of about $44.6 million and operates six factories in Italy employing about 200.