Chinese Magnet Manufacturer Plans to Invest EUR 200 Million in Production Facility in Leskovac

The City of Leskovac was visited by a delegation of the Chinese company TH Magnetics, led by the company’s general manager for Europe, Michael Herwig. Said company intends to launch the first production facility outside its parent state in this city.

TH Magnetics successfully produces magnets for electric engines and consumer products such as mobile phones, computers, air-conditioning devices and tablets. As said at the meeting, Leskovac was shortlisted due to its good position and the excellent business climate. At the meeting with mayor Goran Cvetkovic, the possibilities offered by Leskovac, the potential location for the realization of the project, infrastructural possibilities and business conditions were considered.

Following the meeting, the representatives of the local self-government of the city of Leskovac showed the locations that met the set criteria to the potential investor. TH Magnetics, one of the world’s leading supplier of magnets for the biggest car manufacturers, plans to invest EUR 200 million in the new production facility. By the end of the investment period, nearly 900 people will work at this production facility, it was announced by the City Administration.

The next meeting is scheduled for the beginning of September, when the investor is supposed to make the final decision about the selection of the city where it will start building the facility next year. The facility is supposed to start operating in 2024.

Grad Leskovac

TH Magnetics

Michael Herwig

Goran Cvetković

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