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© peter gudella dreamstime.com Business | October 20, 2015

IFC supports Auto supplier KSS in Macedonia

The IFC is providing an EUR 8 million loan to US-based Key Safety Systems (KSS) to build a plant in FYR Macedonia, creating up to 1'000 jobs by 2017.
KSS designs and manufactures safety-critical automotive components and systems, including inflators, airbags, steering wheels, and seat belts. The new factory, in the western town of Kicevo, will supply KSS’ European airbag production program, based in Romania.

“The new KSS investment in Macedonia is well aligned with our commitment to serve our global customers by providing them with best-in-class quality, cost, and technology,” said Ralph Caspari, President of KSS’ Passive Safety European Division. “We are pleased to partner with IFC on this vertical integration project.”

“IFC supports the development of the automotive sector in FYR Macedonia and the creation of new skilled jobs in the country,” said Thomas Lubeck, IFC Regional Manager for the Western Balkans. “Attracting foreign investors that invest in export-oriented projects, such as KSS, will greatly benefit the local economy.”

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