ODW ELEKTRIK SIGN MoU ANNOUNCING SECOND PHASE OF INVESTMENT
Martin Ehret, CEO of Germany’s ODW Elektrik, and Aleksandar Mladenovski, CEO of Macedonia Free Zones, signed a Memorandum of Understanding today announcing the second phase of their investment in Macedonia. During the second phase of the investment, ODW Elektrik plans to invest €4.2 million, create 90 new jobs, and double their manufacturing facility.
ODW Elektrik began working in an adapted brownfield facility in Ohrid in 2014, where preparations were made for cable and electrical installations for world famous brands like Porsche, Mercedes, Volkswagen, and BMW. By September 2017, ODW Elektrik officially opened its plant in the Ohrid/Struga free zone. The total value of the investment is approximately €15 million, and over 1,000 new jobs are expected to open for citizens of Ohrid, Struga, and neighboring municipalities.
The new production facility in the zone, extends to an area of 4,500m², and there are plans to extend it to 10,000m². By the end of May 2018, and the completion of the first phase of investment, 312 people were employed at the plant.
The German company ODW Elektrik is an innovative development company and supplier of high-quality cables, solenoids and mechatronic systems. The company develops and manufactures top-quality products in four European locations (Germany, Hungary, Ukraine, and Macedonia) with a staff of over 2,200 employees.
Many domestic companies in the metal industry, as well as service industry (food, security, and logistics), are expected to benefit from the mutual cooperation with such investors throughout the country.