Gerovit to Build Factory in Cuprija – Investment Worth EUR 5 Million, 100 New Jobs Planned

Tuesday, 29. Sep 2020.

The Arandjelovac-based company Gerovit bought land in the industrial zone in Cuprija in mid-May, where they plan to build a facility for the production of agrarian products made of plastic. Initially, 30 to 50 workers will be employed at the new facility, and the plan is for EUR 5 million to be invested in the machines.

– The production hall of 4,000 m2, which will be financed through our funds, is being designed now. The plan is to employ 30-50 workers initially, and there should be up to 100 workers eventually. If the state greenlights the business plan, we will invest 4 to 5 million euros in the machines. The construction will start in late 2020 or in the spring of 2021 at the latest – the companys director, Radisav Stankovic, says for eKapija and adds that negotiations with the contractors are in progress.

Gerovit produces irrigation strips, mulching foils, shade nets and raschel bags for the packing of fruit and vegetables.

– Most of our products are plastic products applicable in the agrarian sector, so the investment in Cuprija will also concern the production of plastic agrarian products, which will complement and considerably augment our production portfolio – Stankovic points out.

At the public bidding, Gerovit made the best offer – RSD 6,825,014.90 – for 10,465 m2 of land in the industrial zone.

Gerovit was founded in 2016, but its first business activities date back to 2018.

– We were founded as a startup, helped by UniCredit Bank, which saw that our idea could turn into a serious business endeavor, so they supported us without any guarantee of Pestan, the company where we previously worked and acquired experience – Stankovic adds.

Source: eKapija

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