South Korea's Yura to open first factory in Albania
21 Feb 2019
Published on 20 Feb 2019
Albania’s economy minister Anila Denaj and Yura's representative Lukas Nam, Author: Government of Albania/All Rights Reserved
TIRANA (Albania), February 14 (SeeNews) – The South Korean manufacturer of cables and wiring for the automotive industry Yura Corporation will open its first manufacturing plant in Albania in 2019, the Albanian economy ministry said.
Yura plans to invest 6.5 million euro ($7.3 million) and hire 600 employees this year, to be followed by an additional investment of 13 million euro and expansion of the workforce to 1,100 employees in the coming years, the economy ministry said in a press release late on Wednesday.
Economy minister Anila Denaj signed an agreement with Yura's representative Lukas Nam to lease out to the company some 4.9 hectares of land near the southwestern city of Fier for one euro. Yura’s long-term plans envisage the opening of two other factories employing a total of 4,000 people, according to the press release.
Yura chose to invest in Albania because of the country's its skilled workforce, competitive costs, geographical position and incentives provided by the government, Nam was quoted as saying.
Yura operates in 12 countries around the world, with 60 factories in the manufacturing of automotive electrical and electronic components including wiring harness and electronic control modules.
- See more at: https://seenews.com/news/south-koreas-yura-to-open-first-factory-in-albania-642943#sthash.XK6e9n5c.dpuf
Featured Listings more listings
SIKORA, with its headquarters in Bremen, Germany, is setting worldwide standards with excellent measuring, control and t...
in Instrumentation Sensors Laser Gauges And Test Equipment, Stranders Bunchers Braiders &amp; Armouring Equip., Spoolers &amp; Take-Ups Incl. Furnace &amp; Process Take-Ups, Cable Reel Payoffs, Alphabetical Listing
Bartell Machinery Systems, L.L.C. is a recognized world leader in the design, manufacture, and support of machinery for ...
NIEHOFF ENDEX North America (NENA), subsidiary of Niehoff Gruppe, is a leading supplier of Non-Ferrous equipment
in Die Honing & Lapping Equipment, Die Sizing Machines, Microscopes for Die Profiles, Carbide Drawing Dies, Polycrystalline Drawing Dies, Diamond Drawing Dies, Extruder Screws Barrels & Heads, Alphabetical Listing
Mikrotek Machines Ltd offers a wide selection of quality precision drawing dies. and die technology.