© hannu viitanen dreamstime.com Electronics Production | March 20, 2018
Essex Europe expands with Serbian factory
Essex Europe has laid the foundation stone for its factory in Zrenjanin, Serbia. A total of EUR 30.4 million will be invested in the round magnet wire/winding wire manufacturing facility.
With the expansion, the company will add more than 150 people to its operations, according to a report from the Serbian Development Agency. Essex Europe produces wires for transformers, electric engines and generators. The company is the European subsidiary of US-based, Superior Essex – which it self is part of South Korean LS Group. In order to meet the demand coming from customers in Easter Europe – stemming from the ongoing electrification of the auto industry – the company decided to expand its business. The new Serbian unit will operate under the name Essex Balkan. Back in September of 2017, when the company first announced its intentions to expand production to Serbia, the company stated that the "location compliments the Essex Europe plants in Germany and Italy plus brings local service to nearby manufacturers of electric motors and coils for the automotive and commercial & residential markets." When completed, the factory in Zrenjanin will provide the company with 15’000 square metre of new manufacturing space. Production is expected to begin in the forth quarter of 2018, the report continues.