South Korea’s Essex Europe opens copper wire plant in Zrenjanin

(The official opening of Essex Europe plant in Zrenjanin) The South Korean company Essex Europe opened its enameled copper wire plant in Zrenjanin today. The factory, in which over USD 30 million was invested, takes up 15,000 sqm in Industrial Zone Southeast-Ecka and is expected to employ 150 people by 2023.

State subsidies of EUR 1.6 million were provided for this investment.

- This is a very important day for our company, not just because we have opened the first Essex factory in this part of Europe, but also for the fact that the facility in Zrenjanin and its workers are officially becoming a part of our family. The growth and the progress of our company are the result of dedicated team work of our employees worldwide. Due to this, we believe that we will continue being successful, justifying the image of Essex as an innovator and leader recognizable for its quality products and delivery - said Christopher Koo, the president of LS Group, within which Essex Europe operates.

The opening was attended by Serbian President Aleksandar Vucic, who said that he was satisfied that the construction of the facility which will provide annual exports of EUR 132 million had been completed in only six months.

He said that the average salary at Essex in Zrenjanin was RSD 90,000, far above the Serbian average.

He invited representatives of Essex to open more factories in Serbia.

Essex Europe provides new solutions in the field of vehicle electrification and contributes to the development of RES. It is a member of Superior Essex, which is headquartered in Atlanta, USA, and is a member of South Korea’s LS Group, which produces electronic components and has an annual turnover of USD 19 billion. The company has factories on three continents – in the USA, Canada, Mexico, China, Malaysia, Germany, Italy, Great Britain and France.

The Zrenjanin plant is their first production facility in eastern Europe.

Essex Furukawa Magnet Wire Balkan d.o.o. Zrenjanin

Essex Europe

Essex Zrenjanin

Industrial Zone Southeast Ecka

copper wires

production of copper wires

Aleksandar Vucic

Christopher Koo