A 20-million euro investment by the German company "Kromberg & Schubert" has begun to be formally realized. An agreement was signed Thursday at the Government envisaging the investment to be completed in the third quarter of 2012. The new plant, located in Bitola's Zabeni industrial zone, will launch its production process next year, initially opening jobs for 400 people. The number is expected to rise up to 2,000 in the first five years.

The document was signed by Minister for Foreign Investments Vele Samak and company representatives Wolfgang Tupy and Sami Zaghouani. "Kromberg & Schubert" produces on-board networks, cables, plastic technology and mechatronics.

Wolfgang Tupy said that professional workforce and competitive conditions were the decisive factor for the company to invest in Macedonia.

According to Premier Nikola Gruevski, the investment most importantly would open new jobs, around 2,000 direct employments as well as indirect engagements related to transportation, logistics and services early in the production process of the plant in Bitola.

"There are no better moments such as these when new jobs are being opened," PM Gruevski said after signing the agreement.

He added that the investment would also bolster the balance of trade by 20 million Euros.

Minister Samak stressed that the German investment in Macedonia was opening the most employments so far.

Vice PM responsible for economic affairs, Vladimir Pesevski stated that the investment and its realisation had proved that Macedonia "is a country, which has so much to offer and knows how to do it."

"Kromberg & Schubert" is a German family firm with a 100-year-long history. With over thousands of employees around the world, the firm produces hi-tech products, such as  on-board networks, cables, plastic technology and mechatronics.