The Japanese company Panasonic, which in November established a new company in Svilajnac, central Serbia, to manufacture energy-efficient electronic devices for lighting equipment, announced that mass production will commence on January 10, 2011, it has been officially announced.

Panasonic named the company in Svilajnac Panasonic Electric Works Vossloh-Schwabe Serbia d.o.o.

The 2,250 square meter factory has been completed, the machines installed, and 65 workers employed, Deputy President of the Svilajnac municipality Predrag Milanovic told Tanjug.

Milanovic pointed out that Panasonic would not launch the production on January 1, as it had been announced earlier, due to Christmas holidays, and noted that the factory's management, headed by CEO Klaus Breisch, would come to Svilajnac on January 8.

The investment amount in the financial year 2010 is approximately EUR 580.000, and the capital of the company is EUR 1 million, it was noted in the overview of the new company late November.