The Government of Serbia and Cooper Tires signed an agreement on the acquisition of the Krusevac-based automobile tire manufacturer Trayal by that U.S. company for €13 million. Serbian Minister of Economy Nebojsa Ciric said after signing the agreement in Belgrade that the U.S. company would invest €50 million in Trayal and hire 500 people in the first phase. Cooper Tires would start producing tires in Serbia in Q1 2012, adding that the production would be increased from 500,000 to 3m tires a year and increase the number of newly employed to 700 workers. The signing ceremony in the Presidency of Serbia was attended by Serbian President Boris Tadic and Serbian Prime Minister Mirko Cvetkovic.
Source balkans.com
