News

Valmont establishes venture to build a factory

Published

December 12, 2015

Comments

0

Share

Published:

December 12, 2015

Comments:

0

Share

December 12

Energotehnika Južna Bačka a. d., headquartered in Novi Sad, signed a contract with Valmont Industries Inc. from the United States, setting conditions to build a factory in Zrenjanin, in northeastern Serbia. The initial deal is worth EUR 5 million and the production facility, planned for a launch within two years, will hire 70 people, according to a report published on the portal of Radio 021.

Branimir Mijailović, chief executive of Energotehnika, said the contracts means a new page in the company’s operations. “Through direct negotiations with company Valmont which lasted for a year, we established cooperation with one of the leading producers in the area of utility poles for public lighting and power lines. With their investment, we won’t have to import, but we will only export,” he said. Mijailović stressed the signing of the contract will make Energotehnika’s export double to EUR 15 million.

Milan Kocourek, Valmont’s export sales executive for Central and Eastern Europe, underscored the deal means not only placement in Serbia, but also investment in production. The deal leads to the establishment of the company’s office for the Balkans and Serbia. Valmont, founded in 1946, has 110 production facilities. Energotehnika was founded in 1958. It was privatized in 2010. It builds medium and high voltage substations and overhead lines, with turnkey projects in renewable energy, heating plants and industry automation.

Related Articles

coal-power-generation-eu

Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Floating wind farm project unites fishermen, investors in Ireland

01 July 2022 - A joint 2 GW floating wind farm project is the first cooperation in the world between the two opposing sectors.

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.

net-loss-eps-q1

Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers