Serbian furniture manufacturer Simpo will team up with North Macedonian Leov to manufacturer electrical appliances under the name Simpo-Leov, according to local news sites.
The combined investment is slated to come to EUR 11 mln, and this will result in 200 new jobs over the next two years in the city of Vranje, according to the Serbian news site, ekapija.com.
Simpo currently has approximately 2,000 employees and will be tasked with providing infrastructure and a factory site. Leov, which currently is one of the largest manufacturers of electrical appliances and water heaters in the Balkans, will provide know-how.
Photo of Vranje downtown by Чигот, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons.
