BAT to invest additional EUR 30 mn in production in Croatia

Croatian Prime Minister Tihomir Oreskovic on Thursday met with a delegation of British American Tobacco (BAT), headed by CEO Nicandro Durante, who announced a EUR 30 million investment in the expansion and improvement of BAT's production capacity in Croatia.

Over the past eight month, BAT, one of the leading multinational companies with some 60,000 employees, successfully integrated the Croatian TDR tobacco company in its global system.

Owing to new investments in improving quality and expanding production capacity, which total EUR 30 million and are to be made in the next three years, the factory at Kanfanar will additionally gain in importance, Durante said.

PM Oreskovic expressed satisfaction that BAT, which employs more than 1,700 people  in Croatia , would create additional jobs with its newest investment.

After Pliva and numerous other planned investments in Croatia, this proves that the investment climate in the country is good, said Oreskovic.

The BAT delegation also held talks with First Deputy PM Tomislav Karamarko.

Last update: Thu, 02/06/2016 - 12:52
Author: 

More from Business

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...

Tobacco giant BAT agrees to 49-billion-dollar takeover of US rival

British American Tobacco Plc on Tuesday said it has finalized a deal to acquire 57.8 per cent of shares of US rival...

IMF raises China growth forecast, but warns of sharper slowdown

China's economy will expand by 6.5 per cent this year, the International Monetary Fund said on Monday, as it warned...

Trump's warning to German carmakers hits shares

Shares in German carmakers tumbled on Monday after incoming US president Donald Trump threatened the industry with...