German company "Kromberg & Schubert" has confirmed investment operations over the construction of a new factory in FYRMacedonia.

The investment decision was passed in February, resulting from a long-term study initiated in 2008, including complete analysis of FYRMacedonia and other countries through a number of relevant business factors, says the company.

The investment amounts to EUR 20 million and is scheduled for completion in the first half of 2012.

The facility will produce cable installations for European car producers. About 400 jobs will open in the initial stage, whereas the company expects over 2,500 employments when the plant reaches full capacity.

The company has purchased land and currently undertakes planning and construction activities in close cooperation with the Bitola municipality and local construction companies.

"We are satisfied from the supported provided by the Macedonian Government, its institutions, the cabinet of Minister Samak and Bitola municipality. The decision for investment in Macedonia represents an important step in our expansion as part of the strategy for international output", said Martin Passern, managing director of "Kromberg & Schubert".

Minister for Foreign Investments Vele Samak said the investment came as a result of the long-standing efforts by the cabinet in supporting new production capacities, especially in regions with high unemployment rate.

"Kromberg & Schubert" is a Germany family firm with a 100-year-long history. It produces on-board networks, cables, plastic technology and mechatronics.