British Aston Martin builds factory in Macedonia?

an illustration (Photo: Vasily Smirnov/shutterstock.com)

British luxury carmaker Aston Martin, which is deciding where to build a new plant to expand its product range and return to profitability, is considering a site in Macedonia, two sources familiar with the matter said, Reuters reports.

The firm, which began with a list of 19 possible locations several months ago then narrowed the list down to two British sites, one in the U.S. state of Alabama and a Middle Eastern location, a source told Reuters in December.

But the same source says that in the last few weeks the former Yugoslav republic has made an improved offer to the carmaker, which has previously said that any potential financial support is an important factor in making its choice.

- Macedonia is a recent and late contender having been previously ruled out - one of the sources said and added, "They came back with a stronger bid."

A senior government official in Skopje, who declined to be named, confirmed that Macedonia was in the running.

- We have made a good offer - he said, without elaborating.

The Macedonian government and the firm declined to comment when contacted by Reuters.

Aston Martin, whose owners include Italian private equity group Investindustrial and Kuwaiti group Tejara Capital, is due to make a decision in the next few weeks. The automaker, famous for making the DB5 sports car driven by James Bond, is aiming to quadruple its total production volume to around 15,000 cars by the turn of the decade and will build its new crossover DBX model at the new plant.