One of the largest companies in Bosnia and Herzegovina, automotive components manufacturer TMD Group, has laid the foundation stone for a new plant in the northeastern town of Gradačac. The facility will produce spare parts of electric vehicles.
TMD Group Gradačac
Photo: TMD Group
"We expect that the factory will start operating in full capаcity in June 2021," said the head of TMD Group, Adem Hanic in a statement issued by the Gradačac city council.
Hanic added that the new plant will employ around 100 people.
Investment in the plant has been estimated by local media at being around €1.6-million.
TMD Group opened a €5-million plant in Gradačac in 2018, where it employed an initial workforce of 71. It said at the time that it planned to increase its exports to €200-million by 2021.
TMD Group currently employs some 700 workers and exports its entire output to Germany, Austria, Slovenia, Italy, France, Serbia, and Bulgaria. Its clients include Schaeffler Group, Benteler, SKF, ICSA, SNR NTN, DUCATI Energia, Zedce, and MS Hydraulic, among others.
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