SMEDEREVO, SERBIA -- PKC Group has signed a deal to open a wiring systems factory here. The new site will serve existing and potential new customers in Europe.

The memorandum of understanding with the Republic of Serbia and City of Smederevo calls for manufacturing in existing leased premises at the start of 2014 and in new leased premises to be constructed for PKC by the end of 2014.

The company expects to invest about eight million euros in the site by the end of 2016. The factory is expected to employ about 1,500 employees by the end of 2016.

The new factory is expected to improve PKC’s competitiveness and cost efficiency. Production will be transferred from PKC's existing European facilities next year.

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