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Lames to Open Serbian Plant to Supply Fiat’s Local Production

Lames SpA, an Italian maker of car parts and accessories, will invest 8 million euros ($11 million) to start manufacturing in Serbia where one if its main clients, Fiat SpA (F), is preparing production of two new models.

The investment will receive a 1.74 million-euro incentive subsidy from the Serbian government, or 7,000 euros for each of 249 new jobs created in the future at the 7,200-square meter plant in Sremska Mitrovica in northwestern Serbia, the Economy Ministry said in an e-mailed statement. The plant will open by the end of 2013, it said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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