The Zastava oruzje company is expanding and aiming for millions
The Zastava oruzje company will invest about five million euros in the construction of a new plant covering the area of 4,000 square metres, and the works should start by the end of the year, the Politika daily reports.
This will only partly replace the resources destroyed during the NATO bombing in 1999, when the Kragujevac-based weapons factory lost nearly half of the production capacities.
With the help of the Serbian government, the Zastava oruzje company, which celebrates its 165th anniversary, recently bought the unsuccessfully privatized Zastava kovacnica, and it has employed 650 workers in the last four years. According to CEO of Zastava oruzje, Milojko Brzakovic, in 2019, new business contracts worth 80 million dollars will be realized.