Nov. 29 (Bloomberg) -- Calzedonia SpA, an Italian maker of hosiery, lingerie and beachwear, will invest 20 million euros ($26.8 million) to expand its manufacturing in northern Serbia.
The Verona-based company’s new 18,000-square meter (19,400- square foot) plant in Subotica, will open in 2014, eventually employing 1,000 for manufacturing its Intimissimo brand, Francesco Ruffoli, Calzedonia’s executive director, said as he signed a cooperation agreement with Serbia’s Economy Minister Nebojsa Ciric in the capital Belgrade today.
Calzedonia opened its first Serbian plant in 2010 in nearby Sombor, where it produces 20,000 items a day with 670 workers. It will also add another 400 jobs at the first facility, with an 800,000-euro subsidy from the Serbian government, Ciric said.
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