Gecic Law has advised JFE Shoji on a EUR 50 million greenfield investment in Serbia through the acquisition of a 10-hectare land plot in the Indjija industrial zone.
The new production plant is poised to produce rotors and electric motors for the global automotive brands. According to the law firm, "this venture aligns JFE Shoji Serbia with other prominent Japanese investors in the country. These include, above all, Toyo Tires and Nidec, who have already enhanced the nation's industrial landscape."
"The investor will construct a cutting-edge production plant in this location, that will serve as headquarters for JFE Shoji’s European operations. The investment will significantly contribute to Serbia’s economy and expand JFE Shoji's footprint in Europe. The new factory in Indjija will create more than 100 jobs in its first phase, reflecting JFE Shoji's commitment to the local economy," Gecic Law reported.
Part of JFE Holdings, the JFE Shoji Corporation was born in 2004 through the merger between the Kawasho Corporation and NKK Trading, to handle the steel and steel peripheral business as the core trading house of the JFE Group. Kawasho Foods, Kawasho Semiconductor, and Kawasho Real Estate were established through a company split-up, becoming operating subsidiaries of JFE Shoji Holdings.
The Gecic Law team included Senior Associate Milos Petakovic.
Gecic Law was unable to provide further information on the matter.