Turkish Firm Ormo Opens Spinning Mill In Serbia
Turkish textile company Ormo has opened a yarn production facility in Lebane, in Jablanica district of southern Serbia. The Ormo Group, which is the largest exporter of wool in the world, invested €500,000 in the spinning mill, and it plans to invest additional €500,000 in 2018. The new mill will be operated by Ormo’s Serbian subsidiary LebanTeks.
The new production facility has been set up in eight months in the premises of insolvent state-owned company Eksportekst. The Serbian government invested 200 million dinars ($2 million/€1.7 million) in renovation, the Serbian economy ministry said.
Currently, LebanTeks has employed 300 people at the facility, and it plans to increase the number of employees to 650 in the next two years, Serbian president Aleksandar Vucic said while inaugurating the yarn manufacturing unit.
Vucic said the new facility will export around €11 million worth of goods to Turkey, Russia and western Europe in 2018.
The LebanTeks unit is the first factory opened in Lebane in the last 30 years, according to Serbian economy ministry.