German Kostal Signs Contract for Investment in Macedonia

The German producer of mechatronic and electronic automotive parts, Kostal,signed a contract to invest in a new plant in Macedonia. The investment is valued at about €50 million, and is expected to employ at least 1,000 people.

The agreement was signed by Kostal Vice President, Christopher Sanders, and Viktor Mizo, Director of the Macedonian Free Zones Authority.

Kostal’s Vice President Christopher Sanders said that the company examined a number of countries and looked into the terms and conditions they offered to foreign investors. Kostal concluded that Macedonia had the right incentives, fulfilling the company’s needs.