ITALIAN COMPANY TEKNOHOSE HAS STARTED THE PRODUCTION
Italian company “TeknoHose” has started the production in the plant located in Technological Industrial Development Zone Skopje 1. The initial investment is EUR 5 million and creation of 50 jobs, whereas the realization of a new EUR 10 million investment will start in March next year, increasing the number of employees up to 200. The plant will produce high pressure reinforced rubber hoses, used in construction, automotive industry etc.
Prime Minister Nikola Gruevski and Government ministers, company CEO Antonio Vitillo and Italian Ambassador to Macedonia, Fabio Cristiani officially put the plant into use.
“Despite the effects of the global economic crisis on the investment, which was initially announced in 2008, the result is here, the new plant of Italian investor ‘TeknoHose'”, said PM Gruevski at the ceremony.
“This is a clear signal for all future investors that Macedonia is a stable country with quality economic policies. He expressed belief that such signals would reach many companies, with investors following the footsteps of companies already investing in Macedonia”, he added.
Company CEO Vitillo stressed the Government had provided support during the entire course of investment implementation, adding they chose Macedonia due to the excellent geographic position, competitive costs and favorable tax system.
Italian Ambassador Cristiani emphasized that his country’s investments in Macedonia were modest, but expressed optimism they would increase in the upcoming period.
Company “TeknoHose”, registered in Macedonia under the name “Vitek Macedonia”, is a member of Italy’s Vitillo Group. It purchased an existing facility in TIDZ Skopje 1, which has been completely reconstructed and adapted.
The company plans to start the construction of a second facility in 2013 for production of hydraulic couplings for reinforced hoses.