Karanovic & Partners has advised the German company ZF on matters related to the opening of its factory in Pancevo, Serbia, as part of the first phase of a EUR 160 million investment. The factory will start producing machines, generators for hybrid and electric drives, gearshift switches, and microswitches in the first half of June.
The Serbian Government pronounced this project an investment of importance for the state’s development. For the City of Pancevo, this is the first direct greenfield production-technological investment in the last 40 years.
ZF operates in 40 countries around the world and has a global workforce of over 146,000 employees. In 2017, it recorded sales of EUR 36.4 billion.
The Karanovic & Partners team was led by Senior Partner Marjan Poljak and included Senior Associates Ana Stankovic and Ana Lukovic.