SUBOTICA, Serbia (Dec. 5, 2011)—ContiTech A.G. said it is to invest $13.5 million in a new factory in Subotica to produce systems for various fluids used in the car industry, as well as other products such as pipes for turbo injectors and cooling liquids.
This is ContiTech Fluid's second investment in Serbia. The company already owns Kolubara Univerzal and is reported to be in the final stages of negotiating another potential investment south of Belgrade.
ContiTech Fluid said it received $1.3 million in government aid. The plant is set to employ 250 workers.