Kemet Electronics Corporation launches investment in Bunardzik in amount of Euro 25 mln

Skopje, 30 June 2011 (MIA) - The construction of a new plant in the Technological and Industrial Zone near Skopje was launched Thursday. The investment is by US company Kemet Electronics Corporation in amount of Euro 25 million, which plans to open 500 jobs. This is the forth factory which is being built at Bunardzik zone.

The cornerstone laying ceremony was attended by PM Nikola Gruevski, Vice PM and Finance Minister Zoran Stavreski, Vice PM for Economic Affairs Vladimir Pesevski, Economy Minister Fatmir Besimi, US Ambassador Philip Reeker, CEO of Kemet Electronics Corporation, Per-Olof Loof and many others.

"Today we are launching yet another investment - this time it is a US investment by Kemet Corporation, which is one of the biggest  electronic components manufacturer in the world," Gruevski said addressing the ceremony.

He added that within a year - the period planned for construction of the plant - production of capacitors for various electronic devices would begin.

"Signs showing that Macedonia's economy is reviving, while the global economic crisis comes to an end, are more and more obvious. It is being demonstrated by the latest data on growth of industrial production, growth in the construction sector, GDP growth as well as data on reduction of the unemployment rate and boost of investments, the premier said.

Company's CEO Loof said the idea to invest in Macedonia was conceived after watching the "Invest in Macedonia" ad on CNN.

Vice PM Pesevski noted that reforms and measures taken by the government to attract foreign investments were producing results. "The fact that Kemet Electronics decided to invest in Macedonia is a proof that the offered benefits are competitive," he added.

The investment also was welcomed by US Ambassador Reeker saying that economic development in Macedonia was a goal not only of the United States, but also his personal goal, which is envisaged by the US-Macedonia Strategic Partnership Agreement.

Company's headquarters are located in South Carolina. Manufacturing facilities are located in Mexico, China, Italy, England, Portugal, Finland, Sweden, Indonesia, Germany and Bulgaria. The product line now includes the world's most complete line of surface-mount and through-hole capacitor technologies across tantalum, ceramic, aluminum (organic and electrolytic), film, and paper dielectrics. The company markets its capacitors to a large and diverse group of original equipment manufacturers (OEMs), electronics manufacturing services (EMS) providers, and electronics distributors around the world. Production is measured in the billions of pieces per year.